Fannie Mae (OTCMKTS:FNMA) Upgraded by Mizuho to “Strong-Buy” Rating

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

Other analysts have also issued reports about the company. Zacks Research raised Fannie Mae from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. BTIG Research initiated coverage on Fannie Mae in a research note on Monday, January 26th. They issued a “buy” rating and a $20.00 price target on the stock. Keefe, Bruyette & Woods lowered their price target on Fannie Mae from $10.00 to $8.50 and set an “underperform” rating on the stock in a research note on Monday, April 20th. Wedbush lowered Fannie Mae from an “outperform” rating to a “neutral” rating and set a $8.00 price target on the stock. in a research note on Friday, May 1st. Finally, B. Riley Financial reaffirmed a “neutral” rating on shares of Fannie Mae in a research note on Thursday, February 12th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $12.75.

Fannie Mae Price Performance

Fannie Mae stock opened at $8.06 on Monday. The business has a 50 day simple moving average of $6.83 and a 200-day simple moving average of $8.92. The stock has a market capitalization of $9.33 billion, a PE ratio of 806.81 and a beta of 1.66. Fannie Mae has a 12 month low of $3.60 and a 12 month high of $15.99.

Fannie Mae (OTCMKTS:FNMA) last issued its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.63. The firm had revenue of $7.28 billion for the quarter, compared to analyst estimates of $7.25 billion. Fannie Mae had a negative return on equity of 65.94% and a net margin of 4.53%. On average, equities research analysts anticipate that Fannie Mae will post 2.53 EPS for the current fiscal year.

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.