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

MCAN Mortgage Co. (TSE:MKP) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$23.39 and traded as high as C$24.91. MCAN Mortgage shares last traded at C$24.72, with a volume of 74,629 shares.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group boosted 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. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$23.50.

MCAN Mortgage Price Performance

The business’s 50-day simple moving average is C$24.44 and its two-hundred day simple moving average is C$23.39. The stock has a market capitalization of C$1.01 billion, a price-to-earnings ratio of 12.18 and a beta of 0.85.

MCAN Mortgage (TSE:MKP) last issued its earnings results on Thursday, April 30th. The company reported C$0.57 EPS for the quarter. The business had revenue of C$41.60 million for the quarter. MCAN Mortgage had a net margin of 25.51% and a return on equity of 12.71%. As a group, sell-side 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.