Freddie Mac (OTCMKTS:FMCC – Get Free Report)‘s stock had its “outperform” rating reissued by investment analysts at Wedbush in a research note issued on Friday,Benzinga reports. They currently have a $12.00 price objective on the stock. Wedbush’s price objective indicates a potential upside of 115.83% from the stock’s previous close.
FMCC has been the topic of a number of other reports. Keefe, Bruyette & Woods decreased their price objective on Freddie Mac from $9.00 to $8.50 and set an “underperform” rating on the stock in a report on Monday, April 20th. BTIG Research cut Freddie Mac from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 16th. Finally, Mizuho assumed coverage on Freddie Mac in a research report on Monday, May 4th. They issued an “outperform” rating and a $9.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $14.90.
Check Out Our Latest Analysis on FMCC
Freddie Mac Trading Up 0.4%
Freddie Mac (OTCMKTS:FMCC – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.01 EPS for the quarter. Freddie Mac had a negative return on equity of 65.39% and a net margin of 8.61%.The firm had revenue of $6.13 billion for the quarter, compared to the consensus estimate of $5.61 billion. Analysts anticipate that Freddie Mac will post 0.01 EPS 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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