Freddie Mac (OTCMKTS:FMCC) Rating Increased to Strong-Buy at Mizuho

Mizuho upgraded shares of Freddie Mac (OTCMKTS:FMCC) to a strong-buy rating in a research note issued to investors on Monday morning,Zacks.com reports.

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

Freddie Mac Stock Down 8.2%

Shares of FMCC opened at $7.10 on Monday. Freddie Mac has a 12 month low of $3.40 and a 12 month high of $14.99. The firm’s 50 day moving average is $6.03 and its 200-day moving average is $8.13.

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 business had revenue of $6.13 billion during the quarter, compared to analysts’ expectations of $5.61 billion. Freddie Mac had a negative return on equity of 65.39% and a net margin of 8.61%. As a group, research analysts anticipate that Freddie Mac will post 0.01 earnings per share for the current fiscal 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.