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

MCAN Mortgage Co. (TSE:MKP)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$24.09 and traded as high as C$26.03. MCAN Mortgage shares last traded at C$25.62, with a volume of 26,822 shares trading hands.

Analyst Upgrades and Downgrades

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

MCAN Mortgage Trading Down 0.5%

The company’s 50-day simple moving average is C$25.24 and its 200-day simple moving average is C$24.09. The stock has a market capitalization of C$1.04 billion, a price-to-earnings ratio of 12.62 and a beta of 0.84.

MCAN Mortgage (TSE:MKP) last issued its quarterly earnings results on Thursday, April 30th. The company reported C$0.57 EPS for the quarter. MCAN Mortgage had a net margin of 25.51% and a return on equity of 12.71%. The company had revenue of C$41.60 million for the quarter. On average, equities research analysts expect that MCAN Mortgage Co. will post 2.5108359 earnings per share 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.