Zacks Research Upgrades Freddie Mac (OTCMKTS:FMCC) to “Strong-Buy”

Freddie Mac (OTCMKTS:FMCC) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Monday, Zacks reports.

Several other brokerages also recently commented on FMCC. Keefe, Bruyette & Woods dropped their target price 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. Mizuho cut shares of Freddie Mac from an “outperform” rating to a “neutral” rating and set a $4.00 price target for the company. in a report on Monday, October 12th. Finally, Wedbush started coverage on Freddie Mac in a research note on Thursday, October 22nd. They issued an “outperform” rating and a $6.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Freddie Mac presently has a consensus rating of “Hold” and an average price target of $8.38.

Freddie Mac Stock Up 6.6%

OTCMKTS:FMCC opened at $5.00 on Monday. Freddie Mac has a 12 month low of $2.70 and a 12 month high of $11.80. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of 250.13 and a beta of 1.75. The company’s 50 day moving average is $4.35 and its 200-day moving average is $5.75.

Freddie Mac (OTCMKTS:FMCC) last issued its quarterly earnings data on Thursday, October 29th. The company reported $0.01 earnings per share for the quarter. The business had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.19 billion. Freddie Mac had a net margin of 9.73% and a negative return on equity of 121.95%. Research analysts predict that Freddie Mac will post 0.02 EPS for the current fiscal year.

About Freddie Mac

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.