MCAN Mortgage (TSE:MKP) Stock Passes Above 200-Day Moving Average – Here’s Why

MCAN Mortgage Co. (TSE:MKP)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$21.54 and traded as high as C$22.60. MCAN Mortgage shares last traded at C$22.50, with a volume of 29,704 shares changing hands.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets upped their price objective on 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 research analyst has rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of C$21.00.

MCAN Mortgage Trading Up 0.3%

The stock has a market capitalization of C$904.93 million, a PE ratio of 13.64 and a beta of 0.49. The business’s 50 day moving average is C$22.26 and its 200 day moving average is C$21.54.

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

MCAN Mortgage Company Profile

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.