MCAN Mortgage (TSE:MKP) Shares Cross Above 200-Day Moving Average – What’s Next?

MCAN Mortgage Co. (TSE:MKP)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$23.94 and traded as high as C$26.33. MCAN Mortgage shares last traded at C$26.11, with a volume of 45,481 shares traded.

Analyst Ratings Changes

Separately, National Bank Financial set a C$27.00 target price on shares of MCAN Mortgage and gave the stock an “outperform” rating in a research note on Monday, June 29th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$24.67.

MCAN Mortgage Price Performance

The firm has a 50 day simple moving average of C$25.07 and a 200-day simple moving average of C$23.94. The company has a market cap of C$1.06 billion, a price-to-earnings ratio of 12.86 and a beta of 0.84.

MCAN Mortgage (TSE:MKP) last posted its earnings results on Thursday, April 30th. The company reported C$0.57 EPS for the quarter. MCAN Mortgage had a return on equity of 12.71% and a net margin of 25.51%.The company had revenue of C$41.60 million for the quarter. Research 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.