Freddie Mac (OTCMKTS:FMCC) Trading Up 6.3% – Still a Buy?

Freddie Mac (OTCMKTS:FMCC)’s stock price was up 6.3% during trading on Friday . The company traded as high as $5.89 and last traded at $5.8470. Approximately 1,751,800 shares traded hands during mid-day trading, a decline of 42% from the average session volume of 3,008,717 shares. The stock had previously closed at $5.50.

Analysts Set New Price Targets

FMCC has been the subject of several recent research reports. Mizuho began coverage on shares of Freddie Mac in a research note on Monday, May 4th. They issued an “outperform” rating and a $9.00 price target for the company. Keefe, Bruyette & Woods reduced their price objective on Freddie Mac from $9.00 to $8.50 and set an “underperform” rating on the stock in a research note on Monday, April 20th. Finally, BTIG Research downgraded Freddie Mac from a “buy” rating to a “neutral” rating in a report on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $15.17.

Freddie Mac Trading Up 7.6%

The stock’s fifty day moving average is $6.23 and its 200 day moving average is $6.87.

Freddie Mac (OTCMKTS:FMCC) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.01 earnings per share (EPS) for the quarter. The firm had revenue of $6.13 billion for 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, equities analysts anticipate 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.