MCAN Mortgage (TSE:MKP) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

MCAN Mortgage Co. (TSE:MKP)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$23.26 and traded as high as C$24.50. MCAN Mortgage shares last traded at C$24.50, with a volume of 54,821 shares changing hands.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group boosted their price objective on MCAN Mortgage from C$24.00 to C$26.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$23.50.

MCAN Mortgage Stock Performance

The firm has a 50 day simple moving average of C$24.17 and a two-hundred day simple moving average of C$23.26. The stock has a market cap of C$997.17 million, a P/E ratio of 12.07 and a beta of 0.67.

MCAN Mortgage (TSE:MKP) last announced its earnings results on Thursday, April 30th. The company reported C$0.57 earnings per share for the quarter. The firm had revenue of C$41.60 million for the quarter. MCAN Mortgage had a return on equity of 12.71% and a net margin of 25.51%. As a group, equities research analysts predict that MCAN Mortgage Co. will post 2.5108359 EPS 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.