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

MCAN Mortgage Co. (TSE:MKP) shares reached a new 52-week high during trading on Friday . The company traded as high as C$26.27 and last traded at C$26.26, with a volume of 16245 shares changing hands. The stock had previously closed at C$25.91.

Analyst Upgrades and Downgrades

Separately, National Bank Financial set a C$27.00 target price on shares of MCAN Mortgage and gave the company an “outperform” rating in a report on Monday, June 29th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$24.67.

MCAN Mortgage Stock Up 1.2%

The stock has a market cap of C$1.07 billion, a PE ratio of 12.92 and a beta of 0.84. The company’s fifty day moving average is C$24.93 and its 200 day moving average is C$23.78.

MCAN Mortgage (TSE:MKP) last posted its earnings results on Thursday, April 30th. The company reported C$0.57 earnings per share (EPS) for the quarter. MCAN Mortgage had a return on equity of 12.71% and a net margin of 25.51%.The business had revenue of C$41.60 million during the quarter. Equities analysts expect 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.