Freddie Mac (OTCMKTS:FMCC) Stock Passes Above Fifty Day Moving Average - Here's Why

Key Points

• Freddie Mac's share price recently crossed above its 50-day moving average of $8.88, reaching a high of $13.25, and last traded at $12.75 with a volume of over 2.6 million shares.
• Deutsche Bank initiated coverage on Freddie Mac with a buy rating and a price target of $25.00, while the current consensus rating for the stock is "Hold" with a price target of $14.75.
• Freddie Mac reported a net margin of 9.04% and a negative return on equity of 44.33%, with revenue of $5.92 billion for its latest quarter.

Shares of Freddie Mac (OTCMKTS:FMCC - Get Free Report) passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $8.88 and traded as high as $13.25. Freddie Mac shares last traded at $12.75, with a volume of 2,638,876 shares trading hands.

Analysts Set New Price Targets

A number of research firms have issued reports on FMCC. Keefe, Bruyette & Woods raised their target price on Freddie Mac from $4.50 to $11.00 and gave the company an "underperform" rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Freddie Mac in a research note on Thursday, September 11th. They set a "buy" rating and a $25.00 price objective on the stock. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Freddie Mac has a consensus rating of "Hold" and an average price target of $18.00.

Freddie Mac Stock Performance

The company has a 50 day simple moving average of $9.11 and a two-hundred day simple moving average of $7.21. The company has a market cap of $7.95 billion, a PE ratio of -407.47 and a beta of 2.10.

Freddie Mac (OTCMKTS:FMCC - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported ($0.01) earnings per share for the quarter. Freddie Mac had a net margin of 9.04% and a negative return on equity of 44.33%. The business had revenue of $5.92 billion for the quarter.

About Freddie Mac

Federal Home Loan Mortgage Corporation operates in the secondary mortgage market in the United States. It operates through two segments, Single-Family and Multifamily. The Single-Family segment purchases, securitizes, and guarantees single-family loans; and manages single-family mortgage credit and market risk, as well as manages mortgage-related investments portfolio, single-family securitization activities, and treasury functions.