Freddie Mac (OTCMKTS:FMCC) Shares Down 4.7% – What’s Next?

Freddie Mac (OTCMKTS:FMCC) shares fell 4.7% during trading on Monday . The company traded as low as $5.17 and last traded at $5.23. 248,310 shares were traded during trading, a decline of 92% from the average daily volume of 2,941,742 shares. The stock had previously closed at $5.49.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FMCC. Keefe, Bruyette & Woods reduced their price objective on Freddie Mac from $9.00 to $8.50 and set an “underperform” rating for the company in a research note on Monday, April 20th. Mizuho initiated coverage on Freddie Mac in a research report on Monday, May 4th. They issued an “outperform” rating and a $9.00 target price on the stock. Finally, BTIG Research downgraded shares of Freddie Mac from a “buy” rating to a “neutral” rating in a report on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Freddie Mac has an average rating of “Moderate Buy” and an average price target of $15.17.

Freddie Mac Trading Up 1.0%

The business’s 50-day moving average is $6.06 and its 200-day moving average is $6.68.

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