Freddie Mac (OTCMKTS:FMCC) Shares Break Above Fifty Day Moving Average – What’s Next?

Freddie Mac (OTCMKTS:FMCC) passed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $4.39 and traded as high as $4.5330. Freddie Mac shares last traded at $4.42, with a volume of 6,269,866 shares trading hands.

Wall Street Analysts Forecast Growth

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

Freddie Mac Stock Performance

The company has a fifty day moving average price of $4.39 and a two-hundred day moving average price of $5.80. The company has a market cap of $2.87 billion, a P/E ratio of 221.11 and a beta of 1.74.

Freddie Mac (OTCMKTS:FMCC) last issued its quarterly earnings results on Thursday, October 29th. The company reported $0.01 EPS for the quarter. The firm had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.19 billion. Freddie Mac had a negative return on equity of 105.31% and a net margin of 9.73%. Research analysts anticipate that Freddie Mac will post 0.01 EPS 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.