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

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

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

Fannie Mae Stock Down 3.2%

Shares of OTCMKTS FNMA traded down $0.27 during mid-day trading on Monday, reaching $8.21. 2,937,182 shares of the company were exchanged, compared to its average volume of 5,827,688. The stock has a market cap of $9.51 billion, a price-to-earnings ratio of 4.78 and a beta of 1.78. The firm has a 50-day moving average of $10.39 and a 200 day moving average of $10.80. Fannie Mae has a 1 year low of $4.83 and a 1 year high of $15.99.

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

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.