MCAN Mortgage (TSE:MKP) Share Price Passes Above 200-Day Moving Average – Should You Sell?

MCAN Mortgage Co. (TSE:MKP)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$22.83 and traded as high as C$25.74. MCAN Mortgage shares last traded at C$25.15, with a volume of 72,728 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group upped their price objective on MCAN Mortgage from C$24.00 to C$26.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. One investment 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$23.50.

MCAN Mortgage Price Performance

The business has a 50-day simple moving average of C$23.66 and a 200 day simple moving average of C$22.83. The firm has a market cap of C$1.01 billion, a PE ratio of 12.19 and a beta of 0.67.

MCAN Mortgage (TSE:MKP) last issued its quarterly 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 during the quarter. MCAN Mortgage had a return on equity of 12.71% and a net margin of 25.51%. On average, equities analysts forecast that MCAN Mortgage Co. will post 2.5108359 earnings per share for the current fiscal year.

MCAN Mortgage Company Profile

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.