MCAN Mortgage (TSE:MKP) Shares Cross Above 200-Day Moving Average – What’s Next?

MCAN Mortgage Co. (TSE:MKP)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$23.94 and traded as high as C$26.33. MCAN Mortgage shares last traded at C$26.11, with a volume of 45,481 shares trading hands.

Analyst Ratings Changes

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 report on Monday, June 29th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$24.67.

MCAN Mortgage Stock Performance

The company has a 50 day moving average of C$25.07 and a 200-day moving average of C$23.94. The stock has a market cap of C$1.06 billion, a price-to-earnings ratio of 12.86 and a beta of 0.84.

MCAN Mortgage (TSE:MKP) last released its 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 during the quarter. MCAN Mortgage had a return on equity of 12.71% and a net margin of 25.51%. On average, 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.