Freddie Mac (OTCMKTS:FMCC) Shares Pass Below 200 Day Moving Average – Here’s What Happened

Freddie Mac (OTCMKTS:FMCC)’s stock price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $7.81 and traded as low as $6.15. Freddie Mac shares last traded at $6.38, with a volume of 1,180,494 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Mizuho assumed coverage on shares of Freddie Mac in a research report on Monday, May 4th. They set an “outperform” rating and a $9.00 target price for the company. BTIG Research assumed coverage on shares of Freddie Mac in a research report on Monday, January 26th. They set a “buy” rating and a $20.00 target price for the company. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Freddie Mac from $9.00 to $8.50 and set an “underperform” rating for the company in a research report on Monday, April 20th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $15.17.

Freddie Mac Stock Down 0.5%

The stock’s 50 day moving average price is $6.19 and its two-hundred day moving average price is $7.81.

Freddie Mac (OTCMKTS:FMCC) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.01 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 forecast that Freddie Mac will post 0.01 EPS for the current fiscal year.

About Freddie Mac

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.