MCAN Mortgage (TSE:MKP) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

MCAN Mortgage Co. (TSE:MKP) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$22.34 and traded as high as C$22.51. MCAN Mortgage shares last traded at C$22.32, with a volume of 31,313 shares.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group lifted 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 research note on Wednesday, February 25th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$23.50.

MCAN Mortgage Price Performance

The stock has a market cap of C$928.97 million, a price-to-earnings ratio of 12.11 and a beta of 0.63. The company has a 50 day simple moving average of C$23.19 and a 200-day simple moving average of C$22.35. The company has a current ratio of 11.12, a quick ratio of 1.97 and a debt-to-equity ratio of 535.52.

MCAN Mortgage (TSE:MKP) last posted its quarterly earnings data on Monday, February 23rd. The company reported C$0.43 earnings per share for the quarter. The company had revenue of C$37.60 million during the quarter. MCAN Mortgage had a return on equity of 11.93% and a net margin of 27.90%. Research analysts expect 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.