Fannie Mae (OTCMKTS:FNMA) Stock Crosses Below 200-Day Moving Average – What’s Next?

Fannie Mae (OTCMKTS:FNMA) shares passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $8.24 and traded as low as $6.31. Fannie Mae shares last traded at $6.49, with a volume of 5,015,108 shares.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on FNMA shares. Mizuho started coverage on Fannie Mae in a research report on Monday, May 4th. They set an “outperform” rating and a $10.00 price target for the company. Wedbush lowered Fannie Mae from an “outperform” rating to a “neutral” rating and set a $8.00 price objective on the stock. in a research report on Friday, May 1st. Zacks Research raised shares of Fannie Mae from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. Finally, Keefe, Bruyette & Woods cut their target price on shares of Fannie Mae from $10.00 to $8.50 and set an “underperform” rating for the company in a report on Monday, April 20th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $12.75.

Fannie Mae Stock Performance

The firm has a market capitalization of $7.52 billion, a PE ratio of 649.65 and a beta of 1.57. The firm’s 50 day moving average price is $7.35 and its 200-day moving average price is $8.24.

Fannie Mae (OTCMKTS:FNMA) last announced its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.63 earnings per share for the quarter, meeting the consensus estimate of $0.63. The firm had revenue of $7.28 billion during 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 expect that Fannie Mae will post 2.57 earnings per share for the current fiscal year.

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.