Fannie Mae (OTCMKTS:FNMA – Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $6.75, but opened at $7.27. Fannie Mae shares last traded at $7.08, with a volume of 1,899,523 shares.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on FNMA shares. Mizuho started coverage on Fannie Mae in a report on Monday, May 4th. They set an “outperform” rating and a $10.00 price target on the stock. B. Riley Financial restated a “neutral” rating on shares of Fannie Mae in a report on Thursday, February 12th. Zacks Research upgraded 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 target on the stock. in a report on Friday, May 1st. Finally, Keefe, Bruyette & Woods reduced their price target on Fannie Mae from $10.00 to $8.50 and set an “underperform” rating on the stock in a report on Monday, April 20th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Fannie Mae currently has a consensus rating of “Moderate Buy” and an average price target of $12.75.
Read Our Latest Research Report on FNMA
Fannie Mae Price Performance
Fannie Mae (OTCMKTS:FNMA – Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.63 EPS for the quarter, hitting analysts’ consensus estimates of $0.63. The company had revenue of $7.28 billion for the quarter, compared to analyst estimates of $7.25 billion. Fannie Mae had a negative return on equity of 65.94% and a net margin of 4.53%. As a group, sell-side analysts forecast that Fannie Mae will post 2.57 earnings per share for the current 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.
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