Fannie Mae (OTCMKTS:FNMA – Get Free Report) has earned an average rating of “Hold” from the six ratings firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $10.70.
Several equities analysts have recently weighed in on the stock. BTIG Research lowered shares of Fannie Mae from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 16th. B. Riley Financial lowered their price target on shares of Fannie Mae from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Finally, Wedbush restated a “neutral” rating and set a $8.00 price objective on shares of Fannie Mae in a research report on Thursday, July 30th.
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Fannie Mae Stock Performance
Shares of FNMA stock opened at $5.55 on Tuesday. The firm’s 50-day moving average is $6.06 and its 200-day moving average is $6.58. The stock has a market cap of $6.43 billion, a price-to-earnings ratio of 138.78 and a beta of 1.70. Fannie Mae has a 52-week low of $3.60 and a 52-week high of $14.99.
Fannie Mae (OTCMKTS:FNMA – Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05. Fannie Mae had a negative return on equity of 76.66% and a net margin of 4.59%.The firm had revenue of $7.57 billion for the quarter, compared to the consensus estimate of $7.32 billion. Sell-side analysts predict that Fannie Mae will post 2.63 EPS for the current fiscal year.
About Fannie Mae
Fannie Mae, formally known as the Federal National Mortgage Association, is a government-sponsored enterprise that supports liquidity and stability in the U.S. housing finance system. The company does not generally lend directly to homebuyers. Instead, it purchases qualifying residential mortgages from approved lenders, providing those institutions with funds to originate additional loans.
Fannie Mae finances its activities primarily by issuing debt and mortgage-backed securities. It also guarantees the timely payment of principal and interest on many mortgage-backed securities backed by the loans it purchases.
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