Federal National Mortgage Association (OTCMKTS:FNMA) Lifted to “Buy” at Zacks Investment Research

Federal National Mortgage Association (OTCMKTS:FNMA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday, Zacks.com reports. The firm currently has a $4.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 12.99% from the company’s current price.

According to Zacks, “Fannie Mae is the largest non-bank financial services company in the world. It operates pursuant to a federal charter and is one of the nation’s largest sources of financing for home mortgages. Fannie Mae is working to shrink the nation’s homeownership gaps through an American Dream Commitment to increase homeownership rates and serve targeted American families by the end of the decade. (Company Press Release) “

FNMA has been the subject of a number of other research reports. Odeon Capital Group upgraded shares of Federal National Mortgage Association to a “hold” rating in a research report on Wednesday, November 20th. Nomura started coverage on shares of Federal National Mortgage Association in a research report on Tuesday, January 7th. They issued a “buy” rating and a $5.00 target price for the company. Finally, B. Riley cut their target price on shares of Federal National Mortgage Association from $3.00 to $2.00 and set a “neutral” rating for the company in a research report on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $4.69.

FNMA stock traded up $0.07 during midday trading on Friday, reaching $3.54. The company had a trading volume of 6,232,361 shares, compared to its average volume of 3,138,189. Federal National Mortgage Association has a 1 year low of $2.02 and a 1 year high of $4.23. The company has a market capitalization of $4.11 billion, a P/E ratio of 177.09 and a beta of 2.20. The company has a 50 day moving average of $3.27 and a two-hundred day moving average of $3.12.

Federal National Mortgage Association (OTCMKTS:FNMA) last released its earnings results on Thursday, February 13th. The financial services provider reported $0.02 earnings per share (EPS) for the quarter. Federal National Mortgage Association had a net margin of 10.87% and a negative return on equity of 9.80%. The company had revenue of $7.16 billion during the quarter. As a group, equities research analysts predict that Federal National Mortgage Association will post 0.02 EPS for the current year.

About Federal National Mortgage Association

Federal National Mortgage Association provides a source of liquidity to the mortgage market and supports the availability and affordability of housing in the United States. It securitizes mortgage loans originated by lenders into Fannie Mae mortgage-backed securities (Fannie Mae MBS). The company operates in two segments, Single-Family and Multifamily.

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