BTIG Research Upgrades Fannie Mae (OTCMKTS:FNMA) to “Strong-Buy”

Fannie Mae (OTCMKTS:FNMA) was upgraded by equities researchers at BTIG Research to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

FNMA has been the subject of a number of other research reports. B. Riley upgraded Fannie Mae to a “hold” rating in a research note on Wednesday, October 29th. Wedbush started coverage on Fannie Mae in a research note on Tuesday, November 25th. They issued an “outperform” rating and a $11.50 price objective for the company. Finally, Zacks Research upgraded Fannie Mae from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $14.30.

Fannie Mae Stock Down 3.5%

Shares of FNMA opened at $8.49 on Monday. The company has a 50 day moving average of $10.39 and a two-hundred day moving average of $10.80. Fannie Mae has a twelve month low of $4.83 and a twelve month high of $15.99. The company has a market cap of $9.83 billion, a price-to-earnings ratio of 4.78 and a beta of 1.78.

Fannie Mae (OTCMKTS:FNMA) last issued its quarterly earnings data on Wednesday, October 29th. The financial services provider reported $0.65 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.07). Fannie Mae had a net margin of 2.61% and a negative return on equity of 37.47%. The business had revenue of $7.31 billion for the quarter, compared to analysts’ expectations of $7.72 billion.

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.