Fannie Mae (OTCMKTS:FNMA) Downgraded to “Neutral” Rating by Wedbush

Wedbush downgraded shares of Fannie Mae (OTCMKTS:FNMA) from an outperform rating to a neutral rating in a report published on Friday morning, MarketBeat.com reports. Wedbush currently has $8.00 price objective on the financial services provider’s stock.

Several other research analysts have also recently weighed in on the stock. Zacks Research upgraded shares of Fannie Mae from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. BTIG Research initiated coverage on shares of Fannie Mae in a research note on Monday, January 26th. They set a “buy” rating and a $20.00 target price on the stock. B. Riley Financial restated a “neutral” rating on shares of Fannie Mae in a research note on Thursday, February 12th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Fannie Mae from $10.00 to $8.50 and set an “underperform” rating on the stock in a research note on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Fannie Mae currently has an average rating of “Hold” and a consensus target price of $13.30.

Fannie Mae Stock Performance

Shares of Fannie Mae stock traded down $0.03 on Friday, hitting $8.15. 4,816,121 shares of the company’s stock were exchanged, compared to its average volume of 5,148,028. The company has a 50-day simple moving average of $6.83 and a 200-day simple moving average of $8.96. The stock has a market capitalization of $9.44 billion, a PE ratio of 815.82 and a beta of 1.73. Fannie Mae has a 1 year low of $3.60 and a 1 year high of $15.99.

Fannie Mae (OTCMKTS:FNMA) last issued its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.63 earnings per share for the quarter, hitting the consensus estimate of $0.63. The business had revenue of $7.28 billion for the quarter, compared to analysts’ expectations of $7.25 billion. Fannie Mae had a net margin of 4.53% and a negative return on equity of 65.94%. On average, analysts expect that Fannie Mae will post 2.53 EPS 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.