Nomura Securities Raises Price Target on Chimera Investment (CIM) Following 2Q
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Nomura Securities reiterated a Buy rating on Chimera Investment Corp (NYSE: CIM), and raised the price target to $18.00 (from $17.00), following the company's 2Q earnings report.
Analyst Brock Vandervliet commented, "Following on our First Look which highlighted our first takeaways from CIM’s Q2 print, we are revising our estimates following a model review and management discussion. Our estimate revisions, though not substantial, reflect a growing sense that CIM can continue to manufacture a more stable earnings and dividend stream than most mortgage REITs. This stability is exemplified by our revisions which take full year EPS to $2.28 flat for both 2016 and 2017. Our Q3 estimate which does not bear the drag of Q2’s transaction costs like, is $0.60. Looking at consensus of just $0.56, this earnings pick-up is not well understood by all market participants. We are boosting our target price from $17 to $18."
Shares of Chimera Investment Corp closed at $16.54 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Wedbush Raises Price Target on Citizens Financial Group (CFG) Following 3Q EPS Beat
- FBR & Co. Sees Quick Resolution to Aduro Biotech's (ADRO) Partial Clinical Hold; Trims PT to $20
- Netflix (NFLX) PT Raised to $140 at Guggenheim
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesNomura, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!