MCAN Mortgage (TSE:MKP) Hits New 52-Week High – Here’s Why

MCAN Mortgage Co. (TSE:MKP) reached a new 52-week high on Thursday . The company traded as high as C$25.34 and last traded at C$25.35, with a volume of 48084 shares trading hands. The stock had previously closed at C$25.07.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group lifted their price objective on MCAN Mortgage from C$24.00 to C$26.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, MCAN Mortgage has a consensus rating of “Moderate Buy” and an average target price of C$23.50.

MCAN Mortgage Trading Up 1.4%

The company has a current ratio of 11.12, a quick ratio of 1.97 and a debt-to-equity ratio of 535.52. The company has a market capitalization of C$1.03 billion, a price-to-earnings ratio of 13.45 and a beta of 0.65. The company has a fifty day moving average of C$23.59 and a 200-day moving average of C$22.69.

MCAN Mortgage (TSE:MKP) last issued its earnings results on Thursday, April 30th. The company reported C$0.57 earnings per share for the quarter. The business had revenue of C$41.60 million for the quarter. MCAN Mortgage had a return on equity of 11.93% and a net margin of 27.90%. As a group, equities research analysts anticipate 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.