Fannie Mae (OTCMKTS:FNMA) Shares Pass Below 200 Day Moving Average – Here’s Why

Fannie Mae (OTCMKTS:FNMA) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $10.57 and traded as low as $10.51. Fannie Mae shares last traded at $11.56, with a volume of 6,474,133 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. B. Riley raised shares of Fannie Mae to a “hold” rating in a report on Wednesday, October 29th. Keefe, Bruyette & Woods lifted their price target on Fannie Mae from $4.00 to $10.00 and gave the stock an “underperform” rating in a research note on Thursday, September 18th. Deutsche Bank Aktiengesellschaft initiated coverage on Fannie Mae in a report on Thursday, September 11th. They issued a “buy” rating and a $20.00 price objective for the company. Wedbush started coverage on Fannie Mae in a report on Tuesday, November 25th. They set an “outperform” rating and a $11.50 target price on the stock. Finally, Zacks Research lowered Fannie Mae from a “hold” rating to a “strong sell” rating in a research report on Monday, November 3rd. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Fannie Mae currently has an average rating of “Hold” and a consensus target price of $12.88.

Fannie Mae Stock Up 7.4%

The firm’s 50 day moving average is $11.01 and its two-hundred day moving average is $10.57. The stock has a market cap of $13.39 billion, a price-to-earnings ratio of 5.55 and a beta of 1.71.

Fannie Mae (OTCMKTS:FNMA) last issued its earnings results on Wednesday, October 29th. The financial services provider reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.07). The company had revenue of $7.31 billion during the quarter, compared to analyst estimates of $7.72 billion. Fannie Mae had a net margin of 2.61% and a negative return on equity of 37.47%.

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.