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

MCAN Mortgage Co. (TSE:MKP)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$22.29 and traded as high as C$23.51. MCAN Mortgage shares last traded at C$23.03, with a volume of 84,528 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group upped their price objective 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 assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$23.50.

MCAN Mortgage Trading Down 2.2%

The stock has a market cap of C$934.65 million, a price-to-earnings ratio of 12.19 and a beta of 0.63. The company has a debt-to-equity ratio of 535.52, a current ratio of 11.12 and a quick ratio of 1.97. The company’s fifty day moving average price is C$23.21 and its 200-day moving average price is C$22.29.

MCAN Mortgage (TSE:MKP) last released its earnings results on Monday, February 23rd. The company reported C$0.43 EPS for the quarter. MCAN Mortgage had a net margin of 27.90% and a return on equity of 11.93%. The company had revenue of C$37.60 million during the quarter. On average, research analysts expect that MCAN Mortgage Co. will post 2.5108359 EPS 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.