Fannie Mae (OTCMKTS:FNMA) Receives $12.25 Average PT from Brokerages

Fannie Mae (OTCMKTS:FNMA) has been given an average recommendation of “Hold” by the seven ratings firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $12.25.

Several brokerages recently commented on FNMA. Mizuho started coverage on Fannie Mae in a report on Monday, May 4th. They set an “outperform” rating and a $10.00 target price on the stock. Wedbush reiterated a “neutral” rating and set a $8.00 price target on shares of Fannie Mae in a research report on Thursday, July 30th. B. Riley Financial dropped their price objective on Fannie Mae from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, July 30th. Finally, BTIG Research cut Fannie Mae from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 16th.

Hedge Funds Weigh In On Fannie Mae

An institutional investor recently bought a new stake in Fannie Mae stock. Hennessy Advisors Inc. acquired a new position in Fannie Mae (OTCMKTS:FNMA) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 30,000 shares of the financial services provider’s stock, valued at approximately $195,000. Hedge funds and other institutional investors own 0.02% of the company’s stock.

Fannie Mae Trading Down 1.7%

Fannie Mae stock opened at $6.19 on Friday. Fannie Mae has a 52 week low of $3.60 and a 52 week high of $15.99. The stock has a market cap of $7.17 billion, a price-to-earnings ratio of 154.79 and a beta of 1.66. The company’s 50-day moving average price is $6.22 and its two-hundred day moving average price is $6.82.

Fannie Mae (OTCMKTS:FNMA) last issued 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. The company had revenue of $7.57 billion during the quarter, compared to analyst estimates of $7.32 billion. Fannie Mae had a net margin of 4.59% and a negative return on equity of 76.66%. Research analysts expect that Fannie Mae will post 2.59 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.