Zacks Research Upgrades Freddie Mac (OTCMKTS:FMCC) to “Strong-Buy”

Freddie Mac (OTCMKTS:FMCC) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday, Zacks reports.

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

Freddie Mac Stock Up 6.6%

Shares of Freddie Mac stock opened at $5.00 on Monday. The business has a 50 day moving average of $4.35 and a 200 day moving average of $5.75. Freddie Mac has a 52 week low of $2.70 and a 52 week high of $11.80. The company has a market cap of $3.25 billion, a PE ratio of 234.50 and a beta of 1.75.

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

Freddie Mac Company Profile

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.