MCAN Mortgage (TSE:MKP) Releases Earnings Results

MCAN Mortgage (TSE:MKP) released its earnings results on Thursday. The company reported C$0.57 earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of C$41.60 million during the quarter. MCAN Mortgage had a return on equity of 11.93% and a net margin of 27.90%.

MCAN Mortgage Stock Up 1.4%

Shares of TSE:MKP traded up C$0.35 during midday trading on Thursday, hitting C$25.42. 91,990 shares of the stock were exchanged, compared to its average volume of 54,580. The company has a debt-to-equity ratio of 535.52, a quick ratio of 1.97 and a current ratio of 11.12. MCAN Mortgage has a 52-week low of C$18.80 and a 52-week high of C$25.49. The business’s fifty day simple moving average is C$23.59 and its two-hundred day simple moving average is C$22.69. The company has a market capitalization of C$1.03 billion, a PE ratio of 13.45 and a beta of 0.65.

Wall Street Analysts Forecast Growth

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

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.