MCAN Mortgage (TSE:MKP) Releases Earnings Results

MCAN Mortgage (TSE:MKP) announced its quarterly earnings data on Thursday. The company reported C$0.47 EPS for the quarter, FiscalAI reports. The company had revenue of C$37.74 million during the quarter. MCAN Mortgage had a net margin of 26.55% and a return on equity of 13.08%.

MCAN Mortgage Trading Up 1.0%

TSE MKP opened at C$22.06 on Friday. The company has a market cap of C$902.56 million, a price-to-earnings ratio of 10.45 and a beta of 0.82. MCAN Mortgage has a 52 week low of C$20.16 and a 52 week high of C$26.68. The business has a 50 day moving average price of C$21.37 and a 200-day moving average price of C$23.39. The company has a quick ratio of 1.97, a current ratio of 6.22 and a debt-to-equity ratio of 555.10.

Analyst Upgrades and Downgrades

Separately, National Bank Financial cut their target price on shares of MCAN Mortgage from C$27.00 to C$25.00 and set an “outperform” rating on the stock in a research note on Wednesday. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$24.00.

Insider Activity

In other MCAN Mortgage news, Director Emily Anne Randle purchased 5,900 shares of MCAN Mortgage stock in a transaction that occurred on Thursday, September 24th. The stock was acquired at an average price of C$21.22 per share, with a total value of C$125,198.00. Following the transaction, the director owned 5,900 shares in the company, valued at C$125,198. This trade represents a ∞ increase in their position. 15.28% of the stock is currently owned by corporate insiders.

About MCAN Mortgage

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.