Wedbush Reaffirms “Neutral” Rating for Fannie Mae (OTCMKTS:FNMA)

Fannie Mae (OTCMKTS:FNMA)‘s stock had its “neutral” rating restated by Wedbush in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $8.00 price target on the financial services provider’s stock. Wedbush’s price target indicates a potential upside of 38.17% from the stock’s current price.

Several other equities research analysts have also commented on the stock. Keefe, Bruyette & Woods cut their price target 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. Mizuho assumed coverage on shares of Fannie Mae in a research note on Monday, May 4th. They issued an “outperform” rating and a $10.00 price objective for the company. Zacks Research raised Fannie Mae from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 21st. Finally, BTIG Research cut Fannie Mae from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $12.25.

Fannie Mae Trading Down 3.5%

FNMA stock opened at $5.79 on Thursday. Fannie Mae has a twelve month low of $3.60 and a twelve month high of $15.99. The company’s 50 day moving average is $6.44 and its two-hundred day moving average is $7.13. The stock has a market cap of $6.71 billion, a P/E ratio of 144.79 and a beta of 1.62.

Fannie Mae (OTCMKTS:FNMA) last issued its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.05. Fannie Mae had a net margin of 4.59% and a negative return on equity of 76.66%. The business had revenue of $7.57 billion during the quarter, compared to the consensus estimate of $7.32 billion. On average, equities research analysts predict that Fannie Mae will post 2.59 earnings per share for the current 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.