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

Freddie Mac (OTCMKTS:FMCC) was upgraded by equities researchers at Mizuho to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

Other research analysts have also issued reports about the stock. BTIG Research began coverage on shares of Freddie Mac in a research note on Monday, January 26th. They set a “buy” rating and a $20.00 price objective on the stock. Keefe, Bruyette & Woods reduced their price target on Freddie Mac from $9.00 to $8.50 and set an “underperform” rating for the company in a report on Monday, April 20th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $15.17.

Freddie Mac Price Performance

Shares of FMCC stock 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 company’s fifty day simple moving average is $6.03 and its 200-day simple moving average is $8.13.

Freddie Mac (OTCMKTS:FMCC) last released its earnings results on Thursday, April 30th. The company reported $0.01 earnings per share for the quarter. The business had revenue of $6.13 billion during the quarter, compared to the consensus estimate of $5.61 billion. Freddie Mac had a net margin of 8.61% and a negative return on equity of 65.39%. As a group, sell-side analysts forecast that Freddie Mac will post 0.01 EPS for the current 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.