MCAN Mortgage (TSE:MKP) Announces Earnings Results

MCAN Mortgage (TSE:MKP) announced its earnings results on Monday. The company reported C$0.43 earnings per share (EPS) for the quarter, FiscalAI reports. MCAN Mortgage had a return on equity of 15.63% and a net margin of 52.77%.The firm had revenue of C$37.60 million for the quarter.

MCAN Mortgage Stock Performance

Shares of MKP traded up C$0.05 during midday trading on Tuesday, hitting C$24.43. The company had a trading volume of 40,415 shares, compared to its average volume of 40,009. MCAN Mortgage has a 1 year low of C$16.70 and a 1 year high of C$24.55. The firm has a market capitalization of C$982.55 million, a P/E ratio of 14.81 and a beta of 0.46. The company’s 50-day simple moving average is C$22.76 and its 200-day simple moving average is C$22.06.

Analyst Ratings Changes

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

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.