Fannie Mae (OTCMKTS:FNMA) Shares Pass Below Two Hundred Day Moving Average – What’s Next?

Fannie Mae (OTCMKTS:FNMA) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.46 and traded as low as $5.51. Fannie Mae shares last traded at $6.02, with a volume of 4,560,226 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FNMA. Wedbush cut shares of Fannie Mae from an “outperform” rating to a “neutral” rating and set a $8.00 price target on the stock. in a research report on Friday, May 1st. Mizuho began coverage on Fannie Mae in a research report on Monday, May 4th. They issued an “outperform” rating and a $10.00 price objective for the company. Keefe, Bruyette & Woods dropped their price objective on Fannie Mae from $10.00 to $8.50 and set an “underperform” rating on the stock in a research note on Monday, April 20th. Zacks Research upgraded Fannie Mae from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Finally, BTIG Research cut Fannie Mae from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $12.75.

Fannie Mae Price Performance

The stock has a market cap of $6.97 billion, a P/E ratio of 602.60 and a beta of 1.62. The company has a fifty day moving average price of $6.72 and a 200 day moving average price of $7.46.

Fannie Mae (OTCMKTS:FNMA) last issued its earnings results on Wednesday, April 29th. The financial services provider reported $0.63 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.63. Fannie Mae had a negative return on equity of 65.94% and a net margin of 4.53%.The company had revenue of $7.28 billion for the quarter, compared to analyst estimates of $7.25 billion. As a group, sell-side analysts expect that Fannie Mae will post 2.57 earnings per share for the current fiscal year.

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.