Freddie Mac (OTCMKTS:FMCC) Stock Price Down 24.4% – What’s Next?

Freddie Mac (OTCMKTS:FMCC) traded down 24.4% during mid-day trading on Wednesday. The company traded as low as $3.70 and last traded at $3.78. Approximately 1,962,501 shares changed hands during mid-day trading, a decline of 30% from the average daily volume of 2,814,477 shares. The stock had previously closed at $5.00.

Analysts Set New Price Targets

FMCC has been the topic of several research analyst reports. Zacks Research upgraded shares of Freddie Mac from a “hold” rating to a “strong-buy” rating in a research note on Monday. Mizuho lowered Freddie Mac from an “outperform” rating to a “neutral” rating and set a $4.00 price objective for the company. in a research report on Monday, October 12th. Wedbush started coverage on Freddie Mac in a report on Thursday, October 22nd. They issued an “outperform” rating and a $6.00 target price on the stock. Finally, Keefe, Bruyette & Woods decreased their target price on Freddie Mac from $6.50 to $3.50 and set an “underperform” rating on the stock in a research report on Monday, September 28th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $8.38.

Freddie Mac Stock Down 1.3%

The business’s fifty day moving average is $4.29 and its two-hundred day moving average is $5.71. The stock has a market capitalization of $2.50 billion, a PE ratio of 192.10 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 (EPS) for the quarter. Freddie Mac had a net margin of 9.73% and a negative return on equity of 121.95%. The company had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.19 billion. Sell-side analysts expect that Freddie Mac will post 0.02 EPS for the current fiscal 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.