The company said it estimates economic book value per share of $3.01 as of March 31. That's up from a book value per share of $2.82 a share on December 31.
Along with the estimated book value, Chimera Investment declared a quarterly dividend of 9 cents a share. The dividend is in line with its previous, and is payable on July 24 to all shareholders of record as of June 30. The ex-dividend date is set for June 26.
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TheStreet Ratings team rates CHIMERA INVESTMENT CORP as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate CHIMERA INVESTMENT CORP (CIM) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its attractive valuation levels, expanding profit margins, good cash flow from operations and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- The gross profit margin for CHIMERA INVESTMENT CORP is currently very high, coming in at 93.06%. It has increased from the same quarter the previous year. Along with this, the net profit margin of 51.67% significantly outperformed against the industry average.
- Net operating cash flow has slightly increased to $83.20 million or 1.10% when compared to the same quarter last year. Despite an increase in cash flow, CHIMERA INVESTMENT CORP's cash flow growth rate is still lower than the industry average growth rate of 29.62%.
- CHIMERA INVESTMENT CORP's earnings per share declined by 41.7% in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, CHIMERA INVESTMENT CORP increased its bottom line by earning $0.32 versus $0.13 in the prior year. This year, the market expects an improvement in earnings ($0.40 versus $0.32).
- CIM, with its decline in revenue, underperformed when compared the industry average of 10.3%. Since the same quarter one year prior, revenues slightly dropped by 9.9%. The declining revenue appears to have seeped down to the company's bottom line, decreasing earnings per share.
- You can view the full analysis from the report here: CIM Ratings Report
Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.