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

MCAN Mortgage Co. (TSE:MKP)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$22.39 and traded as high as C$23.30. MCAN Mortgage shares last traded at C$23.21, with a volume of 34,420 shares traded.

Analysts Set New Price Targets

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

MCAN Mortgage Stock Down 0.1%

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 has a market capitalization of C$941.95 million, a price-to-earnings ratio of 12.28 and a beta of 0.65. The firm has a 50-day moving average price of C$23.25 and a two-hundred day moving average price of C$22.39.

MCAN Mortgage (TSE:MKP) last posted its quarterly earnings data on Monday, February 23rd. The company reported C$0.43 earnings per share for the quarter. The company 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%. As a group, sell-side analysts anticipate that MCAN Mortgage Co. will post 2.5108359 earnings per share 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.