Fannie Mae (OTCMKTS:FNMA) Stock Has Average Target Price of $9.70 According to Analysts

Shares of Fannie Mae (OTCMKTS:FNMA) have been assigned an average recommendation of “Hold” from the six ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $9.70.

Several research analysts have weighed in on the stock. BTIG Research lowered shares of Fannie Mae from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 16th. Wedbush reissued a “neutral” rating and issued a $8.00 price target on shares of Fannie Mae in a research note on Thursday, July 30th. Keefe, Bruyette & Woods decreased their price objective on shares of Fannie Mae from $6.25 to $3.50 and set an “underperform” rating on the stock in a report on Monday, September 28th. Finally, B. Riley Financial decreased their price objective on shares of Fannie Mae from $8.00 to $7.00 and set a “neutral” rating on the stock 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. acquired a new stake in Fannie Mae (OTCMKTS:FNMA) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 30,000 shares of the financial services provider’s stock, valued at approximately $195,000. 0.02% of the stock is owned by institutional investors.

Fannie Mae Stock Up 0.1%

FNMA stock opened at $4.04 on Friday. The business has a fifty day moving average of $5.47 and a two-hundred day moving average of $6.36. The stock has a market cap of $4.68 billion, a price-to-earnings ratio of 101.11 and a beta of 1.68. Fannie Mae has a 52-week low of $3.60 and a 52-week high of $12.87.

Fannie Mae (OTCMKTS:FNMA) last posted its earnings results on Wednesday, July 29th. The financial services provider reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. The company had revenue of $7.57 billion for the quarter, compared to the consensus estimate of $7.32 billion. Fannie Mae had a negative return on equity of 76.66% and a net margin of 4.59%. As a group, sell-side analysts anticipate that Fannie Mae will post 2.63 EPS for the current 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.