Chimera Investment's Q2 net income at $0.17/share
Overview
Chimera Q2 GAAP net income $0.17/share, earnings available $0.39/share
Company announces acquisition of HomeXpress Mortgage Corporation
Chimera's economic return for Q2 was 0.5%
Outlook
Company did not provide specific revenue or EPS guidance for future quarters
Chimera focuses on diversification and resilience in mortgage REIT strategy
HomeXpress Mortgage acquisition to strengthen position in mortgage origination
Result Drivers
PORTFOLIO DIVERSIFICATION - Addition of Agency RMBS and MSRs enhanced Chimera's portfolio diversification
ECONOMIC RETURN - Chimera reports economic return of 0.5% for Q2, reflecting portfolio performance
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Net Interest Income | $66.01 mln | ||
Q2 Pretax Profit | $35.86 mln |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the specialized reits peer group is "buy."
Wall Street's median 12-month price target for Chimera Investment Corp is $15.50, about 12.5% above its August 5 closing price of $13.57
The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 7 three months ago
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