MCAN Mortgage (TSE:MKP) Shares Pass Above 200 Day Moving Average – Time to Sell?

MCAN Mortgage Co. (TSE:MKP)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$21.54 and traded as high as C$22.60. MCAN Mortgage shares last traded at C$22.50, with a volume of 29,704 shares changing hands.

Analyst Ratings Changes

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

MCAN Mortgage Price Performance

The business has a 50-day moving average of C$22.26 and a 200 day moving average of C$21.54. The company has a market capitalization of C$904.93 million, a PE ratio of 13.64 and a beta of 0.49.

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