Fannie Mae (OTCMKTS:FNMA) Given Average Rating of “Hold” by Brokerages

Fannie Mae (OTCMKTS:FNMA) has been assigned a consensus recommendation of “Hold” from the six research firms that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $14.30.

A number of brokerages recently weighed in on FNMA. BTIG Research began coverage on Fannie Mae in a research report on Monday, January 26th. They set a “buy” rating and a $20.00 price objective on the stock. B. Riley Financial reiterated a “neutral” rating on shares of Fannie Mae in a report on Thursday, February 12th. Wedbush began coverage on shares of Fannie Mae in a report on Tuesday, November 25th. They issued an “outperform” rating and a $11.50 price target on the stock. Finally, Zacks Research cut shares of Fannie Mae from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 11th.

Fannie Mae Stock Up 4.9%

Fannie Mae stock opened at $5.56 on Tuesday. The firm has a market cap of $6.44 billion, a P/E ratio of 2.17 and a beta of 1.78. The business has a fifty day moving average of $7.59 and a two-hundred day moving average of $10.07. Fannie Mae has a twelve month low of $3.60 and a twelve month high of $15.99.

Fannie Mae (OTCMKTS:FNMA) last announced its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.08). The company had revenue of $7.33 billion during the quarter, compared to analysts’ expectations of $7.33 billion. Fannie Mae had a net margin of 2.22% and a negative return on equity of 49.21%.

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.