Fannie Mae (OTCMKTS:FNMA) Stock Price Up 11% – What’s Next?
by Scott Moore · The Cerbat GemShares of Fannie Mae (OTCMKTS:FNMA – Get Free Report) were up 11% during mid-day trading on Thursday . The company traded as high as $7.37 and last traded at $7.36. Approximately 4,468,390 shares traded hands during trading, a decline of 38% from the average daily volume of 7,211,305 shares. The stock had previously closed at $6.63.
Analysts Set New Price Targets
FNMA has been the topic of several recent analyst reports. Zacks Research cut shares of Fannie Mae from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 11th. B. Riley Financial reissued a “neutral” rating on shares of Fannie Mae in a research report on Thursday, February 12th. Finally, BTIG Research began coverage on shares of Fannie Mae in a research report on Monday, January 26th. They set a “buy” rating and a $20.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $14.30.
View Our Latest Stock Analysis on FNMA
Fannie Mae Trading Up 19.3%
The company has a market cap of $9.16 billion, a P/E ratio of 2.83 and a beta of 1.73. The business’s fifty day moving average is $6.93 and its 200 day moving average is $9.45.
Fannie Mae (OTCMKTS:FNMA – Get Free Report) last issued its earnings results 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). Fannie Mae had a net margin of 2.22% and a negative return on equity of 49.21%. The business had revenue of $7.33 billion for the quarter, compared to the consensus estimate of $7.33 billion.
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.