MCAN Mortgage (TSE:MKP) Reaches New 1-Year High – Time to Buy?

MCAN Mortgage Co. (TSE:MKP)’s share price hit a new 52-week high during trading on Friday . The stock traded as high as C$22.54 and last traded at C$22.51, with a volume of 35316 shares changing hands. The stock had previously closed at C$22.26.

Analyst Upgrades and Downgrades

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

MCAN Mortgage Stock Up 1.0%

The company’s 50 day moving average price is C$21.50 and its two-hundred day moving average price is C$20.79. The stock has a market cap of C$904.53 million, a P/E ratio of 13.63 and a beta of 0.49.

MCAN Mortgage (TSE:MKP) last issued its quarterly earnings data on Thursday, November 6th. The company reported C$0.52 earnings per share (EPS) for the quarter. The company had revenue of C$37.85 million for the quarter. MCAN Mortgage had a net margin of 52.77% and a return on equity of 15.63%. As a group, equities research analysts forecast 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.