Freddie Mac (OTCMKTS:FMCC) Stock Lifted to “Strong-Buy” by Zacks Research

Zacks Research upgraded shares of Freddie Mac (OTCMKTS:FMCC) from a hold rating to a strong-buy rating in a report released on Monday morning,Zacks reports.

Other analysts have also recently issued research reports about the company. Mizuho cut Freddie Mac from an “outperform” rating to a “neutral” rating and set a $4.00 target price on the stock. in a research report on Monday, October 12th. Keefe, Bruyette & Woods decreased their target price on Freddie Mac from $6.50 to $3.50 and set an “underperform” rating for the company in a research report on Monday, September 28th. Finally, Wedbush started coverage on Freddie Mac in a research note on Thursday, October 22nd. They set an “outperform” rating and a $6.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Freddie Mac currently has a consensus rating of “Hold” and an average price target of $8.38.

Freddie Mac Trading Up 6.6%

Shares of Freddie Mac stock opened at $5.00 on Monday. The company has a fifty day simple moving average of $4.35 and a 200-day simple moving average of $5.75. The stock has a market cap of $3.25 billion, a price-to-earnings ratio of 250.13 and a beta of 1.75. Freddie Mac has a 12-month low of $2.70 and a 12-month high of $11.80.

Freddie Mac (OTCMKTS:FMCC) last announced its quarterly earnings results on Thursday, October 29th. The company reported $0.01 EPS for the quarter. Freddie Mac had a net margin of 9.73% and a negative return on equity of 121.95%. The firm had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.19 billion. On average, analysts forecast that Freddie Mac will post 0.02 earnings per share for the current fiscal year.

About Freddie Mac

Freddie Mac, formally known as the Federal Home Loan Mortgage Corporation, is a government-sponsored enterprise focused on supporting liquidity, stability and affordability in the U.S. housing market. It operates primarily in the secondary mortgage market rather than making most home loans directly to consumers.

The company purchases residential mortgage loans from approved lenders, providing those institutions with funds to make additional loans. Freddie Mac also pools eligible mortgages into securities that it guarantees and sells to investors.