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

MCAN Mortgage Co. (TSE:MKP)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$23.26 and traded as high as C$24.50. MCAN Mortgage shares last traded at C$24.50, with a volume of 54,821 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group boosted their price target on shares of MCAN Mortgage from C$24.00 to C$26.00 and gave the company 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 assigned a Hold rating to the company’s stock. According to MarketBeat, MCAN Mortgage has a consensus rating of “Moderate Buy” and an average price target of C$23.50.

MCAN Mortgage Trading Up 0.9%

The company’s fifty day moving average price is C$24.22 and its two-hundred day moving average price is C$23.27. The firm has a market cap of C$1.01 billion, a P/E ratio of 12.18 and a beta of 0.85.

MCAN Mortgage (TSE:MKP) last posted its earnings results on Thursday, April 30th. The company reported C$0.57 earnings per share for the quarter. MCAN Mortgage had a net margin of 25.51% and a return on equity of 12.71%. The business had revenue of C$41.60 million for the quarter. On average, analysts predict that MCAN Mortgage Co. will post 2.5108359 EPS 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.