Fannie Mae (OTCMKTS:FNMA) Rating Increased to Strong-Buy at BTIG Research

BTIG Research upgraded shares of Fannie Mae (OTCMKTS:FNMA) to a strong-buy rating in a report released on Monday morning,Zacks.com reports.

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

Fannie Mae Stock Performance

OTCMKTS FNMA traded down $0.21 on Monday, reaching $8.27. The stock had a trading volume of 2,402,535 shares, compared to its average volume of 5,803,100. The stock has a market cap of $9.58 billion, a P/E ratio of 4.78 and a beta of 1.78. Fannie Mae has a 12-month low of $4.83 and a 12-month high of $15.99. The business’s 50-day moving average price is $10.39 and its 200 day moving average price is $10.80.

Fannie Mae (OTCMKTS:FNMA) last posted 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 company had revenue of $7.31 billion for the quarter, compared to analysts’ expectations of $7.72 billion.

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.