Fannie Mae (OTCMKTS:FNMA) Trading 7.2% Higher – What’s Next?

Shares of Fannie Mae (OTCMKTS:FNMA) were up 7.2% on Tuesday . The company traded as high as $12.39 and last traded at $12.2580. Approximately 3,809,352 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 9,795,380 shares. The stock had previously closed at $11.44.

Analysts Set New Price Targets

Several brokerages recently weighed in on FNMA. B. Riley raised shares of Fannie Mae to a “hold” rating in a research note on Wednesday, October 29th. Zacks Research cut Fannie Mae from a “hold” rating to a “strong sell” rating in a research note on Monday, November 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on Fannie Mae in a research note on Thursday, September 11th. They set a “buy” rating and a $20.00 target price for the company. Keefe, Bruyette & Woods increased their price target on Fannie Mae from $4.00 to $10.00 and gave the company an “underperform” rating in a research report on Thursday, September 18th. Finally, Wedbush assumed coverage on Fannie Mae in a research report on Tuesday, November 25th. They set an “outperform” rating and a $11.50 price objective for the company. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $12.88.

Fannie Mae Trading Up 5.3%

The firm has a market capitalization of $13.95 billion, a PE ratio of 6.10 and a beta of 1.71. The business has a 50 day moving average price of $10.93 and a 200-day moving average price of $10.60.

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

About Fannie Mae

Federal National Mortgage Association provides financing solutions for mortgages in the United States. It operates through two segments, Single-Family and Multifamily. The Single-Family segment securitizes and purchases single-family fixed-rate or adjustable-rate, first-lien mortgage loans, or mortgage-related securities backed by these loans; and loans that are insured by Federal Housing Administration, loans guaranteed by the Department of Veterans Affairs and Rural Development Housing and Community Facilities Program of the U.S.