Fannie Mae (OTCMKTS:FNMA) Stock Has Consensus Price Target of $7.80 According to Analysts

Shares of Fannie Mae (OTCMKTS:FNMA) have been given an average rating of “Reduce” by the six research firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $7.30.

FNMA has been the topic of a number of research reports. Keefe, Bruyette & Woods dropped their price target on Fannie Mae from $6.25 to $3.50 and set an “underperform” rating on the stock in a research note on Monday, September 28th. B. Riley Financial cut their price target on Fannie Mae from $7.00 to $4.50 and set a “neutral” rating on the stock in a report on Thursday, October 29th. Wedbush initiated coverage on Fannie Mae in a research note on Thursday, October 22nd. They issued a “hold” rating and a $3.50 price objective for the company. Finally, Mizuho downgraded Fannie Mae from an “outperform” rating to a “neutral” rating and set a $5.00 price objective for the company. in a report on Monday, October 12th.

Fannie Mae Stock Up 8.8%

OTCMKTS:FNMA opened at $5.56 on Wednesday. The company has a fifty day moving average of $4.79 and a 200-day moving average of $6.41. The firm has a market capitalization of $6.44 billion, a P/E ratio of 25.27 and a beta of 1.72. Fannie Mae has a twelve month low of $2.96 and a twelve month high of $12.39.

Fannie Mae (OTCMKTS:FNMA) last released its quarterly earnings data on Wednesday, October 28th. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.06. The company had revenue of $7.65 billion for the quarter, compared to analysts’ expectations of $7.45 billion. Fannie Mae had a net margin of 5.16% and a negative return on equity of 88.54%. On average, analysts anticipate that Fannie Mae will post 2.71 EPS for the current fiscal year.

Institutional Trading of Fannie Mae

An institutional investor recently bought a new position in Fannie Mae stock. Hennessy Advisors Inc. purchased a new stake in shares of Fannie Mae (OTCMKTS:FNMA) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 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 Company Profile

Fannie Mae, formally known as the Federal National Mortgage Association, is a government-sponsored enterprise that supports the U.S. housing finance system. It operates in the secondary mortgage market, purchasing qualifying residential mortgage loans from approved lenders and helping provide liquidity so those lenders can continue offering mortgage financing to homebuyers and homeowners.

Fannie Mae finances its activities primarily by issuing debt and mortgage-backed securities. It also guarantees certain mortgage-backed securities, helping connect mortgage lenders with institutional investors.