Fannie Mae (OTCMKTS:FNMA – Get Free Report) was upgraded by research analysts at Mizuho to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.
A number of other equities analysts have also issued reports on the stock. Wedbush lowered shares of Fannie Mae from an “outperform” rating to a “neutral” rating and set a $8.00 target price on the stock. in a research report on Friday, May 1st. B. Riley Financial reissued a “neutral” rating on shares of Fannie Mae in a report on Thursday, February 12th. BTIG Research initiated coverage on shares of Fannie Mae in a research report on Monday, January 26th. They issued a “buy” rating and a $20.00 price objective for the company. Keefe, Bruyette & Woods reduced their price objective on Fannie Mae from $10.00 to $8.50 and set an “underperform” rating on the stock in a report on Monday, April 20th. Finally, Zacks Research upgraded Fannie Mae from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Fannie Mae has a consensus rating of “Moderate Buy” and an average price target of $12.75.
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Fannie Mae Stock Performance
Fannie Mae (OTCMKTS:FNMA – Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.63. Fannie Mae had a net margin of 4.53% and a negative return on equity of 65.94%. The business had revenue of $7.28 billion for the quarter, compared to the consensus estimate of $7.25 billion. On average, analysts anticipate that Fannie Mae will post 2.53 EPS for the current fiscal year.
Fannie Mae Company Profile
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.
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