MCAN Mortgage (TSE:MKP) Shares Cross Above 200 Day Moving Average – Time to Sell?

MCAN Mortgage Co. (TSE:MKP) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 traded.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group increased their target price on MCAN Mortgage from C$24.00 to C$26.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$23.50.

MCAN Mortgage Stock Performance

The business has a fifty 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$1.02 billion, a price-to-earnings ratio of 12.39 and a beta of 0.67.

MCAN Mortgage (TSE:MKP) last issued its earnings results on Thursday, April 30th. The company reported C$0.57 earnings per share (EPS) for the quarter. MCAN Mortgage had a return on equity of 12.71% and a net margin of 29.50%.The business had revenue of C$41.60 million during the quarter. On average, equities analysts anticipate 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.