Fannie Mae (OTCMKTS:FNMA) Stock Rating Reaffirmed as Neutral by Wedbush

Fannie Mae (OTCMKTS:FNMA)‘s stock had its “neutral” rating reaffirmed by research analysts at Wedbush in a research note issued on Thursday, Benzinga reports. They currently have a $3.50 price target on the financial services provider’s stock. Wedbush’s price objective would indicate a potential downside of 6.42% from the stock’s previous close.

Several other analysts also recently commented on the stock. B. Riley Financial reduced their target price 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. Mizuho set a $5.00 price objective on shares of Fannie Mae and gave the stock a “neutral” rating in a research report on Monday, October 12th. Finally, Keefe, Bruyette & Woods reduced their price objective on Fannie Mae from $6.25 to $3.50 and set an “underperform” rating for the company in a report on Monday, September 28th. Five equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $7.80.

Fannie Mae Price Performance

FNMA stock opened at $3.74 on Thursday. The company has a fifty day moving average price of $5.09 and a two-hundred day moving average price of $6.22. Fannie Mae has a one year low of $2.96 and a one year high of $12.87. The stock has a market cap of $4.33 billion, a price-to-earnings ratio of 93.52 and a beta of 1.68.

Fannie Mae (OTCMKTS:FNMA) last released its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.68 EPS for the quarter, beating the consensus estimate of $0.63 by $0.05. The firm had revenue of $7.57 billion for the quarter, compared to the consensus estimate of $7.32 billion. Fannie Mae had a net margin of 4.59% and a negative return on equity of 76.66%. Research analysts anticipate that Fannie Mae will post 2.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Fannie Mae stock. Hennessy Advisors Inc. bought a new position in shares of Fannie Mae (OTCMKTS:FNMA) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 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.

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 qualifying residential mortgage loans from approved lenders and helping provide liquidity so those lenders can continue offering mortgage financing to homebuyers and homeowners.

Fannie Mae finances its activities primarily by issuing debt and mortgage-backed securities. It also guarantees certain mortgage-backed securities, helping connect mortgage lenders with institutional investors.