MCAN Mortgage (TSE:MKP) Stock Passes Above 200 Day Moving Average – Time to Sell?

Shares of MCAN Mortgage Co. (TSE:MKP) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$23.15 and traded as high as C$25.13. MCAN Mortgage shares last traded at C$24.97, with a volume of 22,572 shares traded.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group boosted their target price on MCAN Mortgage from C$24.00 to C$26.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, MCAN Mortgage currently has a consensus rating of “Moderate Buy” and an average target price of C$23.50.

MCAN Mortgage Trading Down 0.4%

The firm has a market capitalization of C$1.01 billion, a P/E ratio of 12.22 and a beta of 0.67. The business has a 50-day moving average of C$23.95 and a 200 day moving average of C$23.17.

MCAN Mortgage (TSE:MKP) last issued its earnings results on Thursday, April 30th. The company reported C$0.57 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. As a group, research analysts forecast that MCAN Mortgage Co. will post 2.5108359 EPS 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. The company derives most of its revenues from mortgage income and equity income.