MCAN Mortgage (TSE:MKP) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

MCAN Mortgage Co. (TSE:MKP)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$23.39 and traded as high as C$24.91. MCAN Mortgage shares last traded at C$24.72, with a volume of 74,629 shares traded.

Analysts Set New Price Targets

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 equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$23.50.

MCAN Mortgage Trading Down 0.3%

The firm has a market cap of C$1.01 billion, a P/E ratio of 12.18 and a beta of 0.85. The business’s fifty day simple moving average is C$24.44 and its 200-day simple moving average is C$23.39.

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 net margin of 25.51% and a return on equity of 12.71%. Analysts anticipate 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.