Freddie Mac (OTCMKTS:FMCC) Trading 6.3% Higher – Time to Buy?

Shares of Freddie Mac (OTCMKTS:FMCC) shot up 6.3% during mid-day trading on Friday . The stock traded as high as $5.89 and last traded at $5.8470. Approximately 1,751,800 shares were traded during trading, a decline of 42% from the average session volume of 3,008,717 shares. The stock had previously closed at $5.50.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. BTIG Research downgraded Freddie Mac from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 16th. Mizuho assumed coverage on Freddie Mac in a report on Monday, May 4th. They issued an “outperform” rating and a $9.00 target price on the stock. Finally, Keefe, Bruyette & Woods cut their target price on Freddie Mac from $9.00 to $8.50 and set an “underperform” rating on the stock in a research note on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $15.17.

Freddie Mac Trading Up 7.9%

The stock’s fifty day moving average price is $6.24 and its 200 day moving average price is $6.87.

Freddie Mac (OTCMKTS:FMCC) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.01 earnings per share for the quarter. The company 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.