Fannie Mae (OTCMKTS:FNMA) Raised to Outperform at Wedbush

Fannie Mae (OTCMKTS:FNMA) was upgraded by equities research analysts at Wedbush from an “underperform” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday, Marketbeat reports. The brokerage currently has a $11.50 target price on the financial services provider’s stock. Wedbush’s price target points to a potential upside of 17.23% from the company’s current price.

Other analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft initiated coverage on Fannie Mae in a research note on Thursday, September 11th. They issued a “buy” rating and a $20.00 price target for the company. Keefe, Bruyette & Woods raised their target price on shares of Fannie Mae from $4.00 to $10.00 and gave the stock an “underperform” rating in a research report on Thursday, September 18th. B. Riley raised shares of Fannie Mae to a “hold” rating in a research note on Wednesday, October 29th. Finally, Zacks Research downgraded shares of Fannie Mae from a “hold” rating to a “strong sell” rating in a research note on Monday, November 3rd. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Fannie Mae currently has an average rating of “Hold” and a consensus target price of $12.88.

Fannie Mae Price Performance

OTCMKTS FNMA opened at $9.81 on Tuesday. Fannie Mae has a 1 year low of $2.07 and a 1 year high of $15.99. The stock has a market capitalization of $11.36 billion, a PE ratio of 5.23 and a beta of 2.01. The business’s 50-day moving average is $11.25 and its 200 day moving average is $10.52.

Fannie Mae (OTCMKTS:FNMA) last released its quarterly earnings data on Wednesday, October 29th. The financial services provider reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.07). The business had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $7.72 billion. Fannie Mae had a negative return on equity of 37.47% and a net margin of 7.02%.

About Fannie Mae

Federal National Mortgage Association provides financing solutions for mortgages in the United States. It operates through two segments, Single-Family and Multifamily. The Single-Family segment securitizes and purchases single-family fixed-rate or adjustable-rate, first-lien mortgage loans, or mortgage-related securities backed by these loans; and loans that are insured by Federal Housing Administration, loans guaranteed by the Department of Veterans Affairs and Rural Development Housing and Community Facilities Program of the U.S.