MCAN Mortgage (TSE:MKP) Hits New 1-Year High – Should You Buy?

MCAN Mortgage Co. (TSE:MKP)’s share price hit a new 52-week high on Tuesday . The company traded as high as C$25.85 and last traded at C$25.81, with a volume of 16943 shares traded. The stock had previously closed at C$24.72.

Wall Street Analyst Weigh In

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

MCAN Mortgage Stock Performance

The company has a market cap of C$1.04 billion, a price-to-earnings ratio of 12.64 and a beta of 0.85. The business has a fifty day moving average price of C$24.70 and a 200 day moving average price of C$23.60.

MCAN Mortgage (TSE:MKP) last released its quarterly earnings data on Thursday, April 30th. The company reported C$0.57 earnings per share for the quarter. The business 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 analysts anticipate that MCAN Mortgage Co. will post 2.5108359 EPS 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.