Freddie Mac (OTCMKTS:FMCC – Get Free Report) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.97 and traded as low as $6.90. Freddie Mac shares last traded at $7.03, with a volume of 1,724,541 shares.
Analyst Upgrades and Downgrades
FMCC has been the subject of a number of research analyst reports. BTIG Research started coverage on Freddie Mac in a research report on Monday, January 26th. They set a “buy” rating and a $20.00 price target for the company. Keefe, Bruyette & Woods dropped their target price on shares of Freddie Mac from $9.00 to $8.50 and set an “underperform” rating for the company in a research report on Monday, April 20th. Finally, Mizuho initiated coverage on shares of Freddie Mac in a report on Monday, May 4th. They issued an “outperform” rating and a $9.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $15.17.
Read Our Latest Stock Analysis on Freddie Mac
Freddie Mac Price Performance
Freddie Mac (OTCMKTS:FMCC – Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $0.01 earnings per share for the quarter. Freddie Mac had a negative return on equity of 65.39% and a net margin of 8.61%.The company had revenue of $6.13 billion during the quarter, compared to analysts’ expectations of $5.61 billion. On average, equities analysts anticipate that Freddie Mac will post 0.01 EPS for the current fiscal year.
About Freddie Mac
Freddie Mac (OTCMKTS:FMCC), officially the Federal Home Loan Mortgage Corporation, is a government-sponsored enterprise chartered by Congress in 1970 to enhance liquidity and stability in the U.S. housing finance system. Headquartered in McLean, Virginia, the company operates under the supervision of the Federal Housing Finance Agency (FHFA) and carries a congressional mandate to support affordable, sustainable homeownership and rental housing markets nationwide.
The company’s primary business activities involve purchasing mortgage loans from approved lenders, pooling them into mortgage-backed securities (MBS), and guaranteeing the timely payment of principal and interest to investors.
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