Freddie Mac (OTCMKTS:FMCC) Stock Price Down 7.2% – Here’s What Happened

Freddie Mac (OTCMKTS:FMCC) shares were down 7.2% during mid-day trading on Friday . The stock traded as low as $5.95 and last traded at $6.05. 828,131 shares were traded during mid-day trading, a decline of 73% from the average session volume of 3,095,516 shares. The stock had previously closed at $6.52.

Wall Street Analysts Forecast Growth

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

Freddie Mac Trading Down 8.3%

The firm’s 50-day moving average is $6.42 and its 200-day moving average is $7.21.

Freddie Mac (OTCMKTS:FMCC) last released 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 for the quarter, compared to the consensus estimate of $5.61 billion. On average, equities analysts predict 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.