MCAN Mortgage (TSE:MKP) Sets New 52-Week Low – Time to Sell?

MCAN Mortgage Co. (TSE:MKP) shares hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as C$20.26 and last traded at C$20.27, with a volume of 59985 shares traded. The stock had previously closed at C$21.04.

Analysts Set New Price Targets

Separately, National Bank Financial set a C$27.00 target price on shares of MCAN Mortgage and gave the company an “outperform” rating in a research note on Monday, June 29th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$24.67.

MCAN Mortgage Stock Up 1.3%

The company has a debt-to-equity ratio of 555.10, a current ratio of 6.22 and a quick ratio of 1.97. The stock’s fifty day simple moving average is C$23.48 and its 200-day simple moving average is C$23.97. The stock has a market cap of C$850.19 million, a P/E ratio of 9.85 and a beta of 0.81.

MCAN Mortgage (TSE:MKP) last posted its earnings results on Thursday, July 30th. The company reported C$0.59 EPS for the quarter. The company had revenue of C$43.34 million during the quarter. MCAN Mortgage had a return on equity of 13.08% and a net margin of 26.55%. On average, research analysts anticipate that MCAN Mortgage Co. will post 2.5108359 earnings per share for the current year.

MCAN Mortgage Company Profile

MCAN Mortgage Corporation d/b/a MCAN Financial Group is a public company listed on the Toronto Stock Exchange under the symbol MKP and is a reporting issuer in all provinces and territories in Canada. MCAN also qualifies as a Mortgage Investment Corporation (“MIC”) under the Income Tax Act (Canada). MCAN is the largest MIC in Canada and the only federally regulated MIC that issues term deposits eligible for Canada Deposit Insurance Corporation deposit insurance. MCAN’s primary objective is to generate a reliable stream of income by investing in a diversified portfolio of Canadian mortgages, including residential mortgages, residential construction, non-residential construction, and commercial loans, as well as other types of securities, loans, and real estate investments.