Freddie Mac (OTCMKTS:FMCC) Receives “Outperform” Rating from Wedbush

Freddie Mac (OTCMKTS:FMCC)‘s stock had its “outperform” rating reiterated by analysts at Wedbush in a note issued to investors on Friday,Benzinga reports. They presently have a $12.00 price target on the stock. Wedbush’s price target would suggest a potential upside of 115.83% from the stock’s previous close.

FMCC has been the subject of several other research reports. BTIG Research lowered shares of Freddie Mac from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 16th. Keefe, Bruyette & Woods cut their target price on shares of 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, Mizuho started coverage on shares of Freddie Mac in a report on Monday, May 4th. They set an “outperform” rating and a $9.00 target price on the stock. One 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 assigned a Sell rating to the company. According to data from MarketBeat.com, Freddie Mac presently has a consensus rating of “Moderate Buy” and an average target price of $14.90.

Freddie Mac Stock Performance

Shares of Freddie Mac stock opened at $5.56 on Friday. The business has a 50-day moving average of $5.87 and a 200 day moving average of $6.39. Freddie Mac has a 12 month low of $3.40 and a 12 month high of $14.99.

Freddie Mac (OTCMKTS:FMCC) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.01 earnings per share (EPS) for the quarter. The company had revenue of $6.13 billion for the quarter, compared to analyst estimates of $5.61 billion. Freddie Mac had a net margin of 8.61% and a negative return on equity of 65.39%. Research analysts predict that Freddie Mac will post 0.01 EPS for the current 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.