MCAN Mortgage (TSE:MKP) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Shares of MCAN Mortgage Co. (TSE:MKP) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$21.66 and traded as high as C$22.73. MCAN Mortgage shares last traded at C$22.58, with a volume of 49,904 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets raised their target price 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 analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of C$21.00.

MCAN Mortgage Stock Down 0.1%

The business’s 50-day simple moving average is C$22.39 and its two-hundred day simple moving average is C$21.66. The firm has a market cap of C$908.15 million, a price-to-earnings ratio of 13.68 and a beta of 0.49.

MCAN Mortgage (TSE:MKP) last announced its quarterly earnings results on Thursday, November 6th. The company reported C$0.52 earnings per share for the quarter. The firm 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%. On average, analysts expect that MCAN Mortgage Co. will post 2.5108359 earnings per share 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.