UPGRADED TO BUY BY ZACKS!
This cannot be, an analyst upgrade, huh?!
Federal National Mortgage Assctn Fnni Me Stock Rating Upgraded by Zacks (FNMA)
September 9th, 2015 – 0 comments – Filed Under – by Thomas Dobrow
Federal National Mortgage Assctn Fnni Me logoFederal National Mortgage Assctn Fnni Me (NASDAQ:FNMA) was upgraded by Zacks from a “hold” rating to a “buy” rating in a research reportissued on Wednesday, MarketBeat reports. The firm presently has a $2.50 target price on the stock. Zacks‘s target price suggests a potential upside of 9.65% from the stock’s previous close.
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) “
Federal National Mortgage Assctn Fnni Me (NASDAQ:FNMA) traded down 0.22% on Wednesday, reaching $2.28. The company had a trading volume of 1,422,496 shares. The company’s 50 day moving average price is $2.35 and its 200-day moving average price is $2.53. The company’s market capitalization is $13.08 billion. Federal National Mortgage Assctn Fnni Me has a 12 month low of $0.01 and a 12 month high of $3.66.
Federal National Mortgage Assctn Fnni Me (NASDAQ:FNMA) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.05 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.45 by $0.40. On average, equities analysts predict that Federal National Mortgage Assctn Fnni Me will post $2.01 earnings per share for the current fiscal year.
Federal National Mortgage Association (NASDAQ:FNMA) is a government sponsored enterprise (GSE) chartered by the United States Congress. The Company supports liquidity and stability in the secondary mortgage market where mortgage related assets are purchased and sold. The Company’s activities include providing market liquidity by securitizing mortgage loans originated by lenders in the primary mortgage market into Fannie Mae mortgage backed securities (Fannie Mae MBS) and purchasing mortgage loans and mortgage related securities in the secondary market for its mortgage portfolio. Fannie Mae operates in three business segments: Single-Family, Multifamily and Capital Markets. Its Single-Family Credit Guaranty and Multifamily businesses work with its lender customers to purchase and securitize mortgage loans customers deliver to the Company into Fannie Mae MBS. Fannie Mae conducts its business in the United States residential mortgage market and the global securities market.
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