MCAN Mortgage (TSE:MKP) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Shares of MCAN Mortgage Co. (TSE:MKP) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$22.34 and traded as high as C$22.51. MCAN Mortgage shares last traded at C$22.32, with a volume of 31,313 shares changing hands.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group lifted their price objective on MCAN Mortgage from C$24.00 to C$26.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$23.50.

MCAN Mortgage Price Performance

The stock has a 50-day simple moving average of C$23.18 and a 200 day simple moving average of C$22.34. The company has a market cap of C$905.83 million, a PE ratio of 11.81 and a beta of 0.63. The company has a quick ratio of 1.97, a current ratio of 11.12 and a debt-to-equity ratio of 535.52.

MCAN Mortgage (TSE:MKP) last issued its quarterly earnings data 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 firm had revenue of C$37.60 million during the quarter. Equities analysts expect 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.