MCAN Mortgage (TSE:MKP) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

MCAN Mortgage (TSE:MKP) had its price target hoisted by equities researchers at Canaccord Genuity Group from C$24.00 to C$26.00 in a report issued on Wednesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 6.21% from the company’s previous close.

Separately, BMO Capital Markets upped their target price on MCAN Mortgage from C$20.00 to C$21.00 and gave the company a “hold” rating in a research report on Monday, November 10th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$23.50.

MCAN Mortgage Stock Up 0.2%

Shares of MCAN Mortgage stock traded up C$0.05 on Wednesday, hitting C$24.48. The stock had a trading volume of 17,463 shares, compared to its average volume of 39,398. The stock has a market cap of C$984.56 million, a price-to-earnings ratio of 14.84 and a beta of 0.46. MCAN Mortgage has a twelve month low of C$16.70 and a twelve month high of C$24.55. The business’s 50 day moving average is C$22.81 and its two-hundred day moving average is C$22.08.

MCAN Mortgage (TSE:MKP) last posted its earnings results 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 15.63% and a net margin of 52.77%. As a group, equities analysts predict that MCAN Mortgage 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.