Fannie Mae (OTCMKTS:FNMA) Reaches New 1-Year Low – Here’s What Happened

Fannie Mae (OTCMKTS:FNMA) shares reached a new 52-week low on Wednesday . The stock traded as low as $4.74 and last traded at $4.7940, with a volume of 2516491 shares changing hands. The stock had previously closed at $5.34.

Analyst Ratings Changes

FNMA has been the topic of a number of research analyst reports. BTIG Research started coverage on shares of Fannie Mae in a research report on Monday, January 26th. They set a “buy” rating and a $20.00 price objective on the stock. B. Riley Financial reaffirmed a “neutral” rating on shares of Fannie Mae in a research report on Thursday, February 12th. Zacks Research cut Fannie Mae from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 11th. Finally, Wedbush began coverage on Fannie Mae in a research note on Tuesday, November 25th. They issued an “outperform” rating and a $11.50 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Fannie Mae has an average rating of “Hold” and an average target price of $14.30.

Fannie Mae Stock Down 8.8%

The firm has a market capitalization of $5.64 billion, a PE ratio of 2.38 and a beta of 1.78. The stock’s fifty day simple moving average is $8.05 and its 200 day simple moving average is $10.25.

Fannie Mae (OTCMKTS:FNMA) last issued its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.08). Fannie Mae had a negative return on equity of 49.21% and a net margin of 2.22%.The business had revenue of $7.33 billion for the quarter, compared to analysts’ expectations of $7.33 billion.

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.