Fannie Mae (OTCMKTS:FNMA) Receives Consensus Rating of “Hold” from Brokerages

Fannie Mae (OTCMKTS:FNMA) has earned a consensus recommendation of “Hold” from the six ratings firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $9.70.

Several research analysts have recently weighed in on the stock. B. Riley Financial decreased their price objective on shares of Fannie Mae from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Keefe, Bruyette & Woods dropped their target price on shares of Fannie Mae from $6.25 to $3.50 and set an “underperform” rating on the stock in a report on Monday, September 28th. Wedbush reaffirmed a “neutral” rating and issued a $8.00 target price on shares of Fannie Mae in a research report on Thursday, July 30th. Finally, BTIG Research lowered shares of Fannie Mae from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 16th.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Fannie Mae stock. Hennessy Advisors Inc. purchased a new position in Fannie Mae (OTCMKTS:FNMA) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 Stock Performance

Shares of OTCMKTS:FNMA opened at $3.98 on Friday. Fannie Mae has a fifty-two week low of $3.60 and a fifty-two week high of $12.87. The business has a 50-day simple moving average of $5.55 and a two-hundred day simple moving average of $6.38. The firm has a market cap of $4.61 billion, a price-to-earnings ratio of 99.52 and a beta of 1.68.

Fannie Mae (OTCMKTS:FNMA) last posted its earnings results on Wednesday, July 29th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.05. The business had revenue of $7.57 billion for the quarter, compared to analysts’ expectations of $7.32 billion. Fannie Mae had a net margin of 4.59% and a negative return on equity of 76.66%. As a group, research analysts predict that Fannie Mae will post 2.63 earnings per share for the current year.

About Fannie Mae

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 eligible residential mortgage loans from approved lenders and providing liquidity that helps banks and other mortgage originators continue making loans to homebuyers and homeowners.

Fannie Mae primarily supports single-family and multifamily housing. It finances and securitizes qualifying mortgage loans into mortgage-backed securities and generally guarantees the timely payment of principal and interest to investors in those securities.