MCAN Mortgage (TSE:MKP) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

MCAN Mortgage Co. (TSE:MKP) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$21.13 and traded as high as C$22.47. MCAN Mortgage shares last traded at C$22.28, with a volume of 20,025 shares changing hands.

Analysts Set New Price Targets

Separately, BMO Capital Markets increased their price objective on MCAN Mortgage from C$20.00 to C$21.00 and gave the stock a “hold” rating in a research note on Monday, November 10th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, MCAN Mortgage presently has a consensus rating of “Hold” and an average price target of C$21.00.

MCAN Mortgage Stock Down 0.4%

The firm has a market capitalization of C$896.08 million, a price-to-earnings ratio of 13.50 and a beta of 0.49. The company’s 50 day moving average price is C$21.92 and its 200 day moving average price is C$21.13.

MCAN Mortgage (TSE:MKP) last issued its earnings results on Thursday, November 6th. The company reported C$0.52 EPS for the quarter. MCAN Mortgage had a return on equity of 15.63% and a net margin of 52.77%.The firm had revenue of C$37.85 million for the quarter. As a group, analysts expect that MCAN Mortgage Co. will post 2.5108359 earnings per share for the current 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. The company derives most of its revenues from mortgage income and equity income.