MCAN Mortgage (TSE:MKP) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

MCAN Mortgage Co. (TSE:MKP)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$22.20 and traded as high as C$24.50. MCAN Mortgage shares last traded at C$24.42, with a volume of 55,249 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MKP shares. BMO Capital Markets boosted 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. Canaccord Genuity Group lifted their price target on MCAN Mortgage from C$24.00 to C$26.00 and gave the stock 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 issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$23.50.

MCAN Mortgage Trading Up 1.7%

The company has a quick ratio of 1.97, a current ratio of 11.12 and a debt-to-equity ratio of 535.52. The company has a market capitalization of C$982.15 million, a PE ratio of 14.80 and a beta of 0.46. The stock’s fifty day moving average price is C$23.05 and its two-hundred day moving average price is C$22.20.

MCAN Mortgage (TSE:MKP) last announced its quarterly earnings results on Monday, February 23rd. The company reported C$0.43 earnings per share (EPS) for the quarter. MCAN Mortgage had a return on equity of 11.93% and a net margin of 27.90%.The company had revenue of C$37.60 million for the quarter. Sell-side analysts anticipate that MCAN Mortgage Co. will post 2.5108359 earnings per share 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.