Fannie Mae (OTCMKTS:FNMA) Upgraded by Mizuho to “Strong-Buy” Rating

Fannie Mae (OTCMKTS:FNMA) was upgraded by analysts at Mizuho to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

Other research analysts have also recently issued reports about the company. Keefe, Bruyette & Woods reduced their price target on Fannie Mae from $10.00 to $8.50 and set an “underperform” rating for the company in a research report on Monday, April 20th. B. Riley Financial reiterated a “neutral” rating on shares of Fannie Mae in a research report on Thursday, February 12th. Wedbush cut Fannie Mae from an “outperform” rating to a “neutral” rating and set a $8.00 price target for the company. in a research report on Friday, May 1st. Zacks Research upgraded Fannie Mae from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Finally, BTIG Research began coverage on Fannie Mae in a research report on Monday, January 26th. They set a “buy” rating and a $20.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $12.75.

Fannie Mae Stock Down 7.1%

Shares of OTCMKTS:FNMA opened at $8.06 on Monday. Fannie Mae has a 52-week low of $3.60 and a 52-week high of $15.99. The stock has a market cap of $9.33 billion, a price-to-earnings ratio of 806.81 and a beta of 1.66. The business has a 50-day moving average price of $6.83 and a 200-day moving average price of $8.92.

Fannie Mae (OTCMKTS:FNMA) last announced its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.63. The firm had revenue of $7.28 billion during the quarter, compared to analysts’ expectations of $7.25 billion. Fannie Mae had a negative return on equity of 65.94% and a net margin of 4.53%. As a group, equities analysts anticipate that Fannie Mae will post 2.53 EPS for the current fiscal year.

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.