MCAN Mortgage (TSE:MKP) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

MCAN Mortgage Co. (TSE:MKP) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$23.26 and traded as high as C$24.50. MCAN Mortgage shares last traded at C$24.50, with a volume of 54,821 shares traded.

Analyst Ratings Changes

Separately, Canaccord Genuity Group boosted their price objective on MCAN Mortgage from C$24.00 to C$26.00 and gave the stock 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$23.50.

MCAN Mortgage Stock Performance

The stock has a 50 day moving average price of C$24.17 and a 200 day moving average price of C$23.26. The company has a market cap of C$997.17 million, a P/E ratio of 12.07 and a beta of 0.67.

MCAN Mortgage (TSE:MKP) last posted its quarterly earnings data on Thursday, April 30th. The company reported C$0.57 EPS for the quarter. MCAN Mortgage had a return on equity of 12.71% and a net margin of 25.51%.The company had revenue of C$41.60 million for the quarter. As a group, equities research analysts predict 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.