Fannie Mae (OTCMKTS:FNMA) Earns Neutral Rating from Wedbush

Fannie Mae (OTCMKTS:FNMA)‘s stock had its “neutral” rating reiterated by stock analysts at Wedbush in a report released on Thursday,Benzinga reports. They currently have a $8.00 price target on the financial services provider’s stock. Wedbush’s target price points to a potential upside of 33.78% from the stock’s previous close.

FNMA has been the topic of a number of other research reports. BTIG Research cut Fannie Mae from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 16th. Mizuho started 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. Zacks Research raised shares of Fannie Mae from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Finally, Keefe, Bruyette & Woods cut their target price on shares of Fannie Mae from $10.00 to $8.50 and set an “underperform” rating for the company in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $12.75.

Fannie Mae Trading Up 0.3%

Fannie Mae stock opened at $5.98 on Thursday. Fannie Mae has a 12 month low of $3.60 and a 12 month high of $15.99. The business’s 50 day simple moving average is $6.49 and its 200 day simple moving average is $7.18. The company has a market cap of $6.93 billion, a price-to-earnings ratio of 598.60 and a beta of 1.62.

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 65.94% and a net margin of 4.53%.The business had revenue of $7.57 billion during the quarter, compared to analyst estimates of $7.32 billion. As a group, equities research analysts forecast that Fannie Mae will post 2.57 earnings per share 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.