MCAN Mortgage (TSE:MKP) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

MCAN Mortgage Co. (TSE:MKP)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$22.29 and traded as high as C$23.51. MCAN Mortgage shares last traded at C$23.03, with a volume of 84,528 shares trading hands.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group increased their target price on MCAN Mortgage from C$24.00 to C$26.00 and gave the stock a “buy” rating in a research note 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 stock. Based on data from MarketBeat.com, MCAN Mortgage currently has a consensus rating of “Moderate Buy” and a consensus target price of C$23.50.

MCAN Mortgage Price Performance

The company has a quick ratio of 1.97, a current ratio of 11.12 and a debt-to-equity ratio of 535.52. The firm has a market capitalization of C$910.70 million, a PE ratio of 11.87 and a beta of 0.63. The firm’s fifty day simple moving average is C$23.21 and its 200-day simple moving average is C$22.30.

MCAN Mortgage (TSE:MKP) last posted its quarterly earnings results on Monday, February 23rd. The company reported C$0.43 EPS for the quarter. The firm had revenue of C$37.60 million for the quarter. MCAN Mortgage had a net margin of 27.90% and a return on equity of 11.93%. On average, research analysts forecast that MCAN Mortgage Co. will post 2.5108359 earnings per share for the current fiscal 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.