Fannie Mae (OTCMKTS:FNMA) Stock Price Up 5.7% – What’s Next?

Fannie Mae (OTCMKTS:FNMA)’s share price rose 5.7% during mid-day trading on Friday . The stock traded as high as $6.47 and last traded at $6.45. Approximately 4,473,264 shares changed hands during mid-day trading, a decline of 25% from the average session volume of 5,969,593 shares. The stock had previously closed at $6.10.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on FNMA shares. Zacks Research raised Fannie Mae from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. BTIG Research cut Fannie Mae from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 16th. Mizuho began coverage on Fannie Mae in a research note on Monday, May 4th. They issued an “outperform” rating and a $10.00 price objective on the stock. Keefe, Bruyette & Woods cut their price objective on Fannie Mae from $10.00 to $8.50 and set an “underperform” rating for the company in a report on Monday, April 20th. Finally, Wedbush cut Fannie Mae from an “outperform” rating to a “neutral” rating and set a $8.00 target price for the company. in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Fannie Mae currently has a consensus rating of “Hold” and an average target price of $12.75.

Fannie Mae Trading Up 7.3%

The company’s 50-day moving average is $6.95 and its 200 day moving average is $7.64. The firm has a market cap of $7.58 billion, a PE ratio of 655.01 and a beta of 1.62.

Fannie Mae (OTCMKTS:FNMA) last issued its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.63 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.63. Fannie Mae had a negative return on equity of 65.94% and a net margin of 4.53%.The business had revenue of $7.28 billion for the quarter, compared to the consensus estimate of $7.25 billion. On average, research analysts predict that Fannie Mae will post 2.57 EPS 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.