Fannie Mae (OTCMKTS:FNMA) Share Price Crosses Below 200 Day Moving Average – Here’s What Happened

Fannie Mae (OTCMKTS:FNMA) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $6.96 and traded as low as $5.91. Fannie Mae shares last traded at $6.07, with a volume of 3,568,089 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Fannie Mae from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Mizuho began coverage on Fannie Mae in a research report on Monday, May 4th. They set an “outperform” rating and a $10.00 target price on the stock. Wedbush restated a “neutral” rating and set a $8.00 price target on shares of Fannie Mae in a research note on Thursday, July 30th. B. Riley Financial cut their price target on Fannie Mae from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Finally, Keefe, Bruyette & Woods reduced their price objective on Fannie Mae from $10.00 to $8.50 and set an “underperform” rating for the company in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Fannie Mae has an average rating of “Hold” and a consensus target price of $12.25.

Fannie Mae Trading Up 1.5%

The business’s fifty day moving average price is $6.25 and its 200 day moving average price is $6.94. The company has a market capitalization of $7.19 billion, a P/E ratio of 155.19 and a beta of 1.66.

Fannie Mae (OTCMKTS:FNMA) last posted its earnings results on Wednesday, July 29th. The financial services provider reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. Fannie Mae had a net margin of 4.59% and a negative return on equity of 76.66%. The business had revenue of $7.57 billion for the quarter, compared to analysts’ expectations of $7.32 billion. Equities research analysts anticipate that Fannie Mae will post 2.59 EPS 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.