Fannie Mae (OTCMKTS:FNMA) Price Target Cut to $8.50 by Analysts at Keefe, Bruyette & Woods

Fannie Mae (OTCMKTS:FNMA) had its target price decreased by Keefe, Bruyette & Woods from $10.00 to $8.50 in a report issued on Monday,Benzinga reports. Keefe, Bruyette & Woods currently has an underperform rating on the financial services provider’s stock.

A number of other analysts have also issued reports on the stock. B. Riley Financial reiterated a “neutral” rating on shares of Fannie Mae in a research note on Thursday, February 12th. BTIG Research assumed coverage on shares of Fannie Mae in a research note on Monday, January 26th. They set a “buy” rating and a $20.00 price objective on the stock. Finally, Zacks Research lowered shares of Fannie Mae from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $14.00.

Fannie Mae Stock Down 3.2%

FNMA opened at $7.99 on Monday. The firm has a market capitalization of $9.25 billion, a P/E ratio of 3.38 and a beta of 1.73. The firm’s 50 day moving average is $6.90 and its 200-day moving average is $9.17. Fannie Mae has a 52-week low of $3.60 and a 52-week high of $15.99.

Fannie Mae (OTCMKTS:FNMA) last posted its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.08). The firm had revenue of $7.33 billion for the quarter, compared to analysts’ expectations of $7.33 billion. Fannie Mae had a net margin of 2.22% and a negative return on equity of 49.21%. Equities analysts expect that Fannie Mae will post 2.55 earnings per share 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.