MCAN Mortgage (TSE:MKP) Shares Pass Above 200-Day Moving Average – What’s Next?

MCAN Mortgage Co. (TSE:MKP) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$21.02 and traded as high as C$22.31. MCAN Mortgage shares last traded at C$22.23, with a volume of 35,524 shares.

Analysts Set New Price Targets

Separately, BMO Capital Markets raised their price target on shares of MCAN Mortgage from C$20.00 to C$21.00 and gave the company a “hold” rating in a research report on Monday, November 10th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of C$21.00.

MCAN Mortgage Stock Performance

The firm has a market capitalization of C$894.07 million, a price-to-earnings ratio of 13.47 and a beta of 0.49. The company has a 50 day moving average price of C$21.72 and a two-hundred day moving average price of C$21.02.

MCAN Mortgage (TSE:MKP) last released its quarterly earnings results on Thursday, November 6th. The company reported C$0.52 earnings per share (EPS) for the quarter. The firm had revenue of C$37.85 million for the quarter. MCAN Mortgage had a net margin of 52.77% and a return on equity of 15.63%. On average, equities analysts expect that MCAN Mortgage Co. will post 2.5108359 earnings per share for the current fiscal year.

About MCAN Mortgage

MCAN Financial Group is a mortgage investment company whose objective is to generate a reliable stream of income by investing its funds in a portfolio of mortgages (including single family residential, residential construction, non-residential construction and commercial loans), as well as other types of loans and investments, real estate and securitization investments.