Fannie Mae (OTCMKTS:FNMA) Raised to “Hold” at Zacks Research

Fannie Mae (OTCMKTS:FNMA) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other brokerages have also commented on FNMA. Wedbush assumed coverage on Fannie Mae in a research report on Tuesday, November 25th. They issued an “outperform” rating and a $11.50 target price for the company. Keefe, Bruyette & Woods increased their target price on Fannie Mae from $4.00 to $10.00 and gave the stock an “underperform” rating in a report on Thursday, September 18th. B. Riley upgraded shares of Fannie Mae to a “hold” rating in a report on Wednesday, October 29th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Fannie Mae in a research note on Thursday, September 11th. They issued a “buy” rating and a $20.00 price objective on the stock. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Fannie Mae currently has a consensus rating of “Hold” and a consensus price target of $12.88.

Fannie Mae Stock Performance

Fannie Mae stock opened at $10.30 on Monday. The stock has a market capitalization of $11.93 billion, a price-to-earnings ratio of 5.61 and a beta of 1.71. Fannie Mae has a 52-week low of $3.13 and a 52-week high of $15.99. The stock’s 50 day moving average price is $10.70 and its two-hundred day moving average price is $10.74.

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

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.