Freddie Mac (OTCMKTS:FMCC) Receives Average Recommendation of “Moderate Buy” from Brokerages

Freddie Mac (OTCMKTS:FMCC) has been given a consensus rating of “Moderate Buy” by the six ratings firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $14.90.

A number of brokerages recently weighed in on FMCC. Mizuho began coverage on shares of Freddie Mac in a research report on Monday, May 4th. They set an “outperform” rating and a $9.00 price objective on the stock. Wedbush initiated coverage on shares of Freddie Mac in a research report on Friday, July 31st. They issued an “outperform” rating and a $12.00 target price for the company. BTIG Research lowered shares of Freddie Mac from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 16th. Finally, Keefe, Bruyette & Woods lowered 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.

Freddie Mac Stock Up 0.8%

Shares of OTCMKTS FMCC opened at $5.33 on Wednesday. The firm’s 50-day moving average price is $5.70 and its 200-day moving average price is $6.21. Freddie Mac has a 52-week low of $3.40 and a 52-week high of $14.99. The company has a market cap of $3.46 billion, a PE ratio of 533.53 and a beta of 1.70.

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.