MCAN Mortgage (TSE:MKP) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

MCAN Mortgage Co. (TSE:MKP) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$23.39 and traded as high as C$24.91. MCAN Mortgage shares last traded at C$24.72, with a volume of 74,629 shares trading hands.

Wall Street Analyst Weigh In

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

MCAN Mortgage Stock Performance

The company has a market capitalization of C$1.01 billion, a PE ratio of 12.18 and a beta of 0.85. The business’s 50-day moving average is C$24.44 and its 200-day moving average is C$23.39.

MCAN Mortgage (TSE:MKP) last issued its quarterly earnings results on Thursday, April 30th. The company reported C$0.57 earnings per share (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 during the quarter. Analysts expect that MCAN Mortgage Co. will post 2.5108359 EPS for the current 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.