Fannie Mae (OTCMKTS:FNMA) Given Consensus Recommendation of “Hold” by Analysts

Shares of Fannie Mae (OTCMKTS:FNMA) have been given an average rating of “Hold” by the seven research firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $12.75.

FNMA has been the subject of several recent research reports. Zacks Research raised Fannie Mae from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Wedbush cut Fannie Mae from an “outperform” rating to a “neutral” rating and set a $8.00 price objective on the stock. in a research report on Friday, May 1st. BTIG Research downgraded Fannie Mae from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 16th. Keefe, Bruyette & Woods reduced their target price on shares of Fannie Mae from $10.00 to $8.50 and set an “underperform” rating for the company in a report on Monday, April 20th. Finally, Mizuho assumed coverage on shares of Fannie Mae in a research note on Monday, May 4th. They set an “outperform” rating and a $10.00 target price on the stock.

Fannie Mae Trading Up 13.4%

FNMA opened at $6.99 on Thursday. The firm’s 50 day simple moving average is $7.24 and its two-hundred day simple moving average is $8.01. The company has a market capitalization of $8.09 billion, a PE ratio of 699.20 and a beta of 1.57. Fannie Mae has a 1-year low of $3.60 and a 1-year high of $15.99.

Fannie Mae (OTCMKTS:FNMA) last issued its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.63. Fannie Mae had a net margin of 4.53% and a negative return on equity of 65.94%. The firm had revenue of $7.28 billion during the quarter, compared to the consensus estimate of $7.25 billion. Equities analysts forecast that Fannie Mae will post 2.57 earnings per share for the current fiscal year.

About Fannie Mae

The Federal National Mortgage Association, commonly known as Fannie Mae (OTCMKTS:FNMA), is a government-sponsored enterprise established by Congress in 1938 as part of the New Deal to support the U.S. housing market. Headquartered in Washington, DC, Fannie Mae’s mission is to promote liquidity, stability and affordability in the mortgage market. The company operates by purchasing residential mortgage loans from financial institutions, pooling them into mortgage-backed securities (MBS), and providing guarantees to investors against borrower default.

In its core business, Fannie Mae works with mortgage lenders across the United States—including banks, credit unions and mortgage finance companies—to ensure a steady flow of capital for homebuyers and homeowners seeking refinancing.