Freddie Mac (OTCMKTS:FMCC – Get Free Report) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.47 and traded as low as $5.58. Freddie Mac shares last traded at $5.8140, with a volume of 4,863,612 shares trading hands.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on FMCC. Keefe, Bruyette & Woods reduced their price objective on shares of Freddie Mac from $9.00 to $8.50 and set an “underperform” rating for the company in a report on Monday, April 20th. Mizuho started coverage on shares of Freddie Mac in a research note on Monday, May 4th. They set an “outperform” rating and a $9.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Freddie Mac has an average rating of “Moderate Buy” and an average price target of $15.17.
Read Our Latest Research Report on FMCC
Freddie Mac Stock Up 2.8%
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. The firm had revenue of $6.13 billion during the quarter, compared to analysts’ expectations of $5.61 billion. Freddie Mac had a net margin of 8.61% and a negative return on equity of 65.39%. On average, analysts predict that Freddie Mac will post 0.01 earnings per share for the current fiscal year.
Freddie Mac Company Profile
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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