Fannie Mae (OTCMKTS:FNMA) Upgraded at Wedbush

Wedbush upgraded shares of Fannie Mae (OTCMKTS:FNMA) from an underperform rating to an outperform rating in a research note issued to investors on Tuesday morning, MarketBeat reports. Wedbush currently has $11.50 price objective on the financial services provider’s stock.

Several other research firms also recently weighed in on FNMA. Zacks Research lowered shares of Fannie Mae from a “hold” rating to a “strong sell” rating in a research report on Monday, November 3rd. B. Riley raised shares of Fannie Mae to a “hold” rating in a research note on Wednesday, October 29th. Keefe, Bruyette & Woods boosted their target price on Fannie Mae from $4.00 to $10.00 and gave the stock an “underperform” rating in a report on Thursday, September 18th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Fannie Mae in a research report on Thursday, September 11th. They issued a “buy” rating and a $20.00 price target for the company. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $12.88.

Fannie Mae Price Performance

Shares of OTCMKTS:FNMA opened at $9.81 on Tuesday. The business’s 50 day moving average price is $11.18 and its 200-day moving average price is $10.52. Fannie Mae has a 1 year low of $2.07 and a 1 year high of $15.99. The firm has a market capitalization of $11.36 billion, a PE ratio of 5.35 and a beta of 2.01.

Fannie Mae (OTCMKTS:FNMA) last announced its quarterly earnings data on Wednesday, October 29th. The financial services provider reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.07). Fannie Mae had a net margin of 7.02% and a negative return on equity of 37.47%. The firm had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $7.72 billion.

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.