Fannie Mae (OTCMKTS:FNMA) Upgraded at BTIG Research

BTIG Research upgraded shares of Fannie Mae (OTCMKTS:FNMA) to a strong-buy rating in a research report report published on Monday morning,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Zacks Research upgraded shares of Fannie Mae from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Wedbush initiated coverage on Fannie Mae in a research note on Tuesday, November 25th. They set an “outperform” rating and a $11.50 target price for the company. Finally, B. Riley raised Fannie Mae to a “hold” rating in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.30.

Fannie Mae Stock Down 4.1%

OTCMKTS:FNMA opened at $8.13 on Monday. The company’s 50 day moving average is $10.33 and its 200-day moving average is $10.78. Fannie Mae has a 12 month low of $4.83 and a 12 month high of $15.99. The firm has a market cap of $9.42 billion, a price-to-earnings ratio of 4.61 and a beta of 1.78.

Fannie Mae (OTCMKTS:FNMA) last posted its quarterly earnings data on Wednesday, October 29th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.07). Fannie Mae had a negative return on equity of 37.47% and a net margin of 2.61%.The firm had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $7.72 billion.

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.