MCAN Mortgage (TSE:MKP) Hits New 52-Week High – Still a Buy?

MCAN Mortgage Co. (TSE:MKP)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as C$23.44 and last traded at C$23.38, with a volume of 5600 shares. The stock had previously closed at C$23.23.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets raised their price objective on shares of 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 investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, MCAN Mortgage has a consensus rating of “Hold” and an average target price of C$21.00.

MCAN Mortgage Stock Up 0.3%

The company has a market capitalization of C$941.12 million, a price-to-earnings ratio of 14.18 and a beta of 0.46. The business has a 50-day moving average price of C$22.57 and a 200-day moving average price of C$21.84.

MCAN Mortgage (TSE:MKP) last released its quarterly earnings results on Thursday, November 6th. The company reported C$0.52 earnings per share for the quarter. The business had revenue of C$37.85 million during the quarter. MCAN Mortgage had a return on equity of 15.63% and a net margin of 52.77%. As a group, sell-side analysts predict that MCAN Mortgage Co. will post 2.5108359 EPS for the current 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.