Freddie Mac (OTCMKTS:FMCC) Coverage Initiated by Analysts at Wedbush

Wedbush initiated coverage on shares of Freddie Mac (OTCMKTS:FMCC) in a research report released on Friday morning, Marketbeat.com reports. The brokerage issued an outperform rating and a $12.00 target price on the stock.

A number of other equities research analysts also recently issued reports on FMCC. Keefe, Bruyette & Woods reduced their price objective on shares of Freddie Mac from $9.00 to $8.50 and set an “underperform” rating for the company in a research report on Monday, April 20th. BTIG Research cut shares of Freddie Mac from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 16th. Finally, Mizuho assumed coverage on shares of Freddie Mac in a research report on Monday, May 4th. They set an “outperform” rating and a $9.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Freddie Mac has an average rating of “Moderate Buy” and an average target price of $14.90.

Freddie Mac Price Performance

OTCMKTS FMCC opened at $5.51 on Friday. Freddie Mac has a 1 year low of $3.40 and a 1 year high of $14.99. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of 551.35 and a beta of 1.66. The company has a fifty day moving average price of $5.85 and a 200-day moving average price of $6.39.

Freddie Mac (OTCMKTS:FMCC) last announced its earnings results on Thursday, April 30th. The company reported $0.01 EPS for the quarter. Freddie Mac had a net margin of 9.58% and a negative return on equity of 80.30%. The company had revenue of $6.13 billion during the quarter, compared to the consensus estimate of $5.61 billion. On average, research analysts anticipate 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.