MCAN Mortgage (TSE:MKP) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

MCAN Mortgage Co. (TSE:MKP)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$21.78 and traded as high as C$23.29. MCAN Mortgage shares last traded at C$23.23, with a volume of 35,674 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets increased their price objective on MCAN Mortgage from C$20.00 to C$21.00 and gave the company a “hold” rating in a report on Monday, November 10th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, MCAN Mortgage has a consensus rating of “Hold” and a consensus target price of C$21.00.

MCAN Mortgage Price Performance

The stock has a market cap of C$934.29 million, a PE ratio of 14.08 and a beta of 0.46. The company’s fifty day moving average is C$22.51 and its 200-day moving average is C$21.79.

MCAN Mortgage (TSE:MKP) last announced its quarterly earnings results on Thursday, November 6th. The company reported C$0.52 earnings per share (EPS) for the quarter. The company had revenue of C$37.85 million during the quarter. MCAN Mortgage had a return on equity of 15.63% and a net margin of 52.77%. 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.