Fannie Mae (OTCMKTS:FNMA) Receives $12.25 Consensus Price Target from Brokerages

Shares of Fannie Mae (OTCMKTS:FNMA) have received an average recommendation of “Hold” from the six brokerages that are currently covering the company, MarketBeat reports. One investment 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 twelve-month price target among analysts that have issued a report on the stock in the last year is $10.70.

A number of research firms recently commented on FNMA. BTIG Research downgraded shares of Fannie Mae from a “buy” rating to a “neutral” rating in a report on Tuesday, June 16th. Wedbush restated a “neutral” rating and set a $8.00 target price on shares of Fannie Mae in a report on Thursday, July 30th. Finally, 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.

Hedge Funds Weigh In On Fannie Mae

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) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 30,000 shares of the financial services provider’s stock, valued at approximately $195,000. 0.02% of the stock is currently owned by institutional investors and hedge funds.

Fannie Mae Stock Performance

FNMA opened at $5.74 on Tuesday. Fannie Mae has a one year low of $3.60 and a one year high of $15.99. The stock’s fifty day moving average is $6.07 and its 200-day moving average is $6.60. The company has a market capitalization of $6.64 billion, a PE ratio of 143.46 and a beta of 1.70.

Fannie Mae (OTCMKTS:FNMA) last announced its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.05. Fannie Mae had a negative return on equity of 76.66% and a net margin of 4.59%.The business had revenue of $7.57 billion during the quarter, compared to analyst estimates of $7.32 billion. On average, equities research analysts forecast that Fannie Mae will post 2.63 EPS for the current fiscal year.

Fannie Mae Company Profile

Fannie Mae, formally known as the Federal National Mortgage Association, is a government-sponsored enterprise that supports liquidity and stability in the U.S. housing finance system. The company does not generally lend directly to homebuyers. Instead, it purchases qualifying residential mortgages from approved lenders, providing those institutions with funds to originate additional loans.

Fannie Mae finances its activities primarily by issuing debt and mortgage-backed securities. It also guarantees the timely payment of principal and interest on many mortgage-backed securities backed by the loans it purchases.