MCAN Mortgage (TSE:MKP) Announces Earnings Results

MCAN Mortgage (TSE:MKP) announced its quarterly earnings data on Thursday. The company reported C$0.59 earnings per share for the quarter, FiscalAI reports. MCAN Mortgage had a return on equity of 12.71% and a net margin of 25.51%.The firm had revenue of C$43.34 million during the quarter.

MCAN Mortgage Stock Performance

MCAN Mortgage stock opened at C$24.99 on Friday. MCAN Mortgage has a 1 year low of C$20.07 and a 1 year high of C$26.68. The firm’s 50-day moving average is C$25.27 and its 200-day moving average is C$24.15. The company has a market cap of C$1.02 billion, a P/E ratio of 12.31 and a beta of 0.84.

Analysts Set New Price Targets

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

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.