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

MCAN Mortgage Co. (TSE:MKP) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$21.66 and traded as high as C$22.73. MCAN Mortgage shares last traded at C$22.58, with a volume of 49,904 shares changing hands.

Analyst Ratings Changes

Separately, BMO Capital Markets lifted their price target on shares of 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 stock has an average rating of “Hold” and an average price target of C$21.00.

MCAN Mortgage Price Performance

The company has a market capitalization of C$901.71 million, a P/E ratio of 13.59 and a beta of 0.49. The business’s 50-day moving average price is C$22.41 and its two-hundred day moving average price is C$21.68.

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