MCAN Mortgage (TSE:MKP) Sets New 12-Month Low – What’s Next?

Shares of MCAN Mortgage Co. (TSE:MKP) reached a new 52-week low during trading on Tuesday . The company traded as low as C$20.26 and last traded at C$20.27, with a volume of 59985 shares. The stock had previously closed at C$21.04.

Wall Street Analyst Weigh In

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

MCAN Mortgage Stock Down 3.6%

The firm’s 50 day moving average price is C$23.69 and its two-hundred day moving average price is C$24.02. The firm has a market capitalization of C$830.15 million, a PE ratio of 9.62 and a beta of 0.81. The company has a quick ratio of 1.97, a current ratio of 6.22 and a debt-to-equity ratio of 555.10.

MCAN Mortgage (TSE:MKP) last posted its quarterly earnings data on Thursday, July 30th. The company reported C$0.59 earnings per share for the quarter. MCAN Mortgage had a net margin of 26.55% and a return on equity of 13.08%. The company had revenue of C$43.34 million during the quarter. As a group, research analysts forecast that MCAN Mortgage Co. will post 2.5108359 EPS for the current fiscal year.

About MCAN Mortgage

MCAN Mortgage Corporation d/b/a MCAN Financial Group is a public company listed on the Toronto Stock Exchange under the symbol MKP and is a reporting issuer in all provinces and territories in Canada. MCAN also qualifies as a Mortgage Investment Corporation (“MIC”) under the Income Tax Act (Canada). MCAN is the largest MIC in Canada and the only federally regulated MIC that issues term deposits eligible for Canada Deposit Insurance Corporation deposit insurance. MCAN’s primary objective is to generate a reliable stream of income by investing in a diversified portfolio of Canadian mortgages, including residential mortgages, residential construction, non-residential construction, and commercial loans, as well as other types of securities, loans, and real estate investments.