Freddie Mac (OTCMKTS:FMCC) Shares Cross Above Fifty Day Moving Average of $2.24

Freddie Mac (OTCMKTS:FMCC)’s share price passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $2.24 and traded as high as $2.45. Freddie Mac shares last traded at $2.43, with a volume of 947,903 shares traded.

A number of research analysts recently issued reports on the stock. Keefe, Bruyette & Woods cut shares of Freddie Mac from a “market perform” rating to an “underperform” rating and set a $1.00 price target for the company. in a research report on Wednesday, March 17th. Odeon Capital Group upgraded Freddie Mac from a “sell” rating to a “hold” rating and increased their target price for the company from $0.50 to $2.00 in a research note on Tuesday, March 23rd. Finally, Zacks Investment Research cut Freddie Mac from a “buy” rating to a “hold” rating in a report on Tuesday, May 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $1.81.

The stock has a market capitalization of $1.58 billion, a P/E ratio of 12.79 and a beta of 2.75. The business has a fifty day moving average of $2.24.

Freddie Mac (OTCMKTS:FMCC) last issued its earnings results on Thursday, April 29th. The company reported $0.12 earnings per share for the quarter. Freddie Mac had a net margin of 15.37% and a negative return on equity of 13.85%. The company had revenue of $5.27 billion during the quarter, compared to the consensus estimate of $3.36 billion.

About Freddie Mac (OTCMKTS:FMCC)

Freddie Mac operates in the secondary mortgage market in the United States. The company purchases residential mortgage loans originated by lenders, as well as invests in mortgage loans and mortgage-related securities. It operates through three segments: Single-family Guarantee, Multifamily, and Capital Markets.

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