MCAN Mortgage (TSE:MKP) Reaches New 12-Month High – Still a Buy?

MCAN Mortgage Co. (TSE:MKP)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as C$26.27 and last traded at C$26.26, with a volume of 16245 shares traded. The stock had previously closed at C$25.91.

Wall Street Analysts Forecast Growth

Separately, National Bank Financial set a C$27.00 price objective on shares of MCAN Mortgage and gave the stock an “outperform” rating in a research note on Monday, June 29th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$24.67.

MCAN Mortgage Stock Performance

The stock has a market cap of C$1.07 billion, a PE ratio of 13.00 and a beta of 0.84. The company has a 50 day moving average of C$24.96 and a two-hundred day moving average of C$23.80.

MCAN Mortgage (TSE:MKP) last issued its quarterly earnings results on Thursday, April 30th. The company reported C$0.57 earnings per share (EPS) 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, equities research 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.