MCAN Mortgage (TSE:MKP) Shares Cross Above 200 Day Moving Average – Here’s What Happened

MCAN Mortgage Co. (TSE:MKP) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$22.58 and traded as high as C$24.44. MCAN Mortgage shares last traded at C$24.30, with a volume of 44,434 shares.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group lifted their target price on shares of 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 equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, MCAN Mortgage presently has an average rating of “Moderate Buy” and a consensus target price of C$23.50.

MCAN Mortgage Trading Up 0.5%

The company has a debt-to-equity ratio of 535.52, a current ratio of 11.12 and a quick ratio of 1.97. The firm’s 50 day moving average is C$23.53 and its 200 day moving average is C$22.59. The company has a market capitalization of C$991.47 million, a PE ratio of 12.93 and a beta of 0.65.

MCAN Mortgage (TSE:MKP) last issued its earnings results on Monday, February 23rd. The company reported C$0.43 EPS for the quarter. MCAN Mortgage had a net margin of 27.90% and a return on equity of 11.93%. The company had revenue of C$37.60 million for the quarter. As a group, equities 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.