MCAN Mortgage (TSE:MKP) Shares Cross Above 200 Day Moving Average – Time to Sell?

MCAN Mortgage Co. (TSE:MKP) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$23.15 and traded as high as C$25.13. MCAN Mortgage shares last traded at C$24.97, with a volume of 22,572 shares.

Wall Street Analysts Forecast Growth

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

MCAN Mortgage Stock Up 0.2%

The company has a market capitalization of C$1.02 billion, a price-to-earnings ratio of 12.30 and a beta of 0.67. The business’s 50-day moving average is C$23.90 and its 200-day moving average is C$23.15.

MCAN Mortgage (TSE:MKP) last announced its quarterly earnings results on Thursday, April 30th. The company reported C$0.57 earnings per share for the quarter. The company 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, analysts expect 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.