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

MCAN Mortgage Co. (TSE:MKP)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$21.43 and traded as high as C$22.71. MCAN Mortgage shares last traded at C$22.64, with a volume of 44,388 shares changing hands.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets boosted their price target on MCAN Mortgage from C$20.00 to C$21.00 and gave the stock a “hold” rating in a research report on Monday, November 10th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of C$21.00.

MCAN Mortgage Trading Up 0.3%

The firm has a market capitalization of C$910.56 million, a price-to-earnings ratio of 13.72 and a beta of 0.49. The stock’s fifty day moving average price is C$22.20 and its two-hundred day moving average price is C$21.43.

MCAN Mortgage (TSE:MKP) last announced its quarterly earnings results on Thursday, November 6th. The company reported C$0.52 earnings per share (EPS) for the quarter. MCAN Mortgage had a return on equity of 15.63% and a net margin of 52.77%.The company had revenue of C$37.85 million during the quarter. Analysts anticipate 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.