MCAN Mortgage (TSE:MKP) Share Price Crosses Above 200 Day Moving Average – Time to Sell?
by Sarita Garza · The Markets DailyMCAN Mortgage Co. (TSE:MKP – Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$22.20 and traded as high as C$24.50. MCAN Mortgage shares last traded at C$24.42, with a volume of 55,249 shares changing hands.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the stock. Canaccord Genuity Group lifted their price objective on shares of MCAN Mortgage from C$24.00 to C$26.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. BMO Capital Markets raised their price target on MCAN Mortgage from C$20.00 to C$21.00 and gave the stock a “hold” rating in a report on Monday, November 10th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, MCAN Mortgage presently has an average rating of “Moderate Buy” and an average target price of C$23.50.
Read Our Latest Research Report on MCAN Mortgage
MCAN Mortgage Stock Performance
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 has a market cap of C$970.48 million, a PE ratio of 14.62 and a beta of 0.63. The company has a 50 day simple moving average of C$23.09 and a 200-day simple moving average of C$22.22.
MCAN Mortgage (TSE:MKP – Get Free Report) last posted its quarterly earnings results on Monday, February 23rd. The company reported C$0.43 earnings per share (EPS) for the quarter. The business had revenue of C$37.60 million during the quarter. MCAN Mortgage had a net margin of 27.90% and a return on equity of 11.93%. As a group, equities research analysts anticipate 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.