Fannie Mae (OTCMKTS:FNMA) Stock Has Consensus Target Price of $9.70

Fannie Mae (OTCMKTS:FNMA) has received a consensus rating of “Hold” from the six research firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $9.70.

Several equities research analysts have recently issued reports on the stock. B. Riley Financial reduced their price objective on shares of Fannie Mae from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. BTIG Research lowered shares of Fannie Mae from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 16th. Keefe, Bruyette & Woods cut their target price on shares of Fannie Mae from $6.25 to $3.50 and set an “underperform” rating for the company in a research note on Monday, September 28th. Finally, Wedbush reiterated a “neutral” rating and issued a $8.00 price target on shares of Fannie Mae in a report on Thursday, July 30th.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Fannie Mae stock. Hennessy Advisors Inc. bought a new position in Fannie Mae (OTCMKTS:FNMA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 30,000 shares of the financial services provider’s stock, valued at approximately $195,000. 0.02% of the stock is currently owned by hedge funds and other institutional investors.

Fannie Mae Trading Down 4.1%

OTCMKTS:FNMA opened at $4.19 on Friday. Fannie Mae has a 12-month low of $3.60 and a 12-month high of $12.87. The stock has a 50-day moving average price of $5.63 and a 200 day moving average price of $6.39. The stock has a market capitalization of $4.85 billion, a P/E ratio of 104.78 and a beta of 1.68.

Fannie Mae (OTCMKTS:FNMA) last posted its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.05. Fannie Mae had a negative return on equity of 76.66% and a net margin of 4.59%.The company had revenue of $7.57 billion for the quarter, compared to analysts’ expectations of $7.32 billion. On average, research analysts predict that Fannie Mae will post 2.63 earnings per share for the current fiscal year.

About Fannie Mae

Fannie Mae, formally known as the Federal National Mortgage Association, is a government-sponsored enterprise that supports the U.S. housing finance system. It operates in the secondary mortgage market, purchasing eligible residential mortgage loans from approved lenders and providing liquidity that helps banks and other mortgage originators continue making loans to homebuyers and homeowners.

Fannie Mae primarily supports single-family and multifamily housing. It finances and securitizes qualifying mortgage loans into mortgage-backed securities and generally guarantees the timely payment of principal and interest to investors in those securities.