MCAN Mortgage (TSE:MKP) Stock Passes Above 200-Day Moving Average – Here’s What Happened

MCAN Mortgage Co. (TSE:MKP)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$22.58 and traded as high as C$24.44. MCAN Mortgage shares last traded at C$24.30, with a volume of 44,434 shares.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group upped 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 equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, MCAN Mortgage has a consensus rating of “Moderate Buy” and a consensus price target of C$23.50.

MCAN Mortgage Price Performance

The company has a 50-day simple moving average of C$23.52 and a 200-day simple moving average of C$22.58. The stock has a market cap of C$986.19 million, a PE ratio of 12.86 and a beta of 0.65. The company has a debt-to-equity ratio of 535.52, a current ratio of 11.12 and a quick ratio of 1.97.

MCAN Mortgage (TSE:MKP) last released its quarterly earnings data on Monday, February 23rd. The company reported C$0.43 earnings per share (EPS) for the quarter. The firm 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%. Sell-side analysts anticipate that MCAN Mortgage Co. will post 2.5108359 EPS for the current fiscal 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.