Freddie Mac (OTCMKTS:FMCC) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

Shares of Freddie Mac (OTCMKTS:FMCC) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.81 and traded as low as $6.15. Freddie Mac shares last traded at $6.38, with a volume of 1,180,494 shares changing hands.

Analysts Set New Price Targets

FMCC has been the topic of a number of recent analyst reports. Mizuho initiated coverage on Freddie Mac in a report on Monday, May 4th. They set an “outperform” rating and a $9.00 price target on the stock. Keefe, Bruyette & Woods dropped their price target on Freddie Mac from $9.00 to $8.50 and set an “underperform” rating on the stock in a report on Monday, April 20th. Finally, BTIG Research initiated coverage on Freddie Mac in a report on Monday, January 26th. They set a “buy” rating and a $20.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Freddie Mac presently has an average rating of “Moderate Buy” and a consensus price target of $15.17.

Freddie Mac Price Performance

The stock has a 50-day simple moving average of $6.21 and a 200-day simple moving average of $7.80.

Freddie Mac (OTCMKTS:FMCC) last released its 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 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%. As a group, equities analysts predict that Freddie Mac will post 0.01 EPS for the current fiscal 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.