MCAN Mortgage (TSE:MKP) Stock Crosses Above 200 Day Moving Average – Here’s Why

MCAN Mortgage Co. (TSE:MKP)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$23.94 and traded as high as C$26.33. MCAN Mortgage shares last traded at C$26.11, with a volume of 45,481 shares trading hands.

Analysts Set New Price Targets

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

MCAN Mortgage Trading Down 0.8%

The stock has a market cap of C$1.06 billion, a P/E ratio of 12.86 and a beta of 0.84. The business has a 50-day simple moving average of C$25.07 and a 200 day simple moving average of C$23.94.

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