MCAN Mortgage (TSE:MKP) Reaches New 1-Year Low – Time to Sell?

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

Wall Street Analyst Weigh In

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 equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$24.67.

MCAN Mortgage Stock Down 3.6%

The firm has a market cap of C$830.15 million, a price-to-earnings ratio of 9.62 and a beta of 0.81. The company has a quick ratio of 1.97, a current ratio of 6.22 and a debt-to-equity ratio of 555.10. The firm has a fifty day moving average price of C$23.69 and a 200-day moving average price of C$24.02.

MCAN Mortgage (TSE:MKP) last released its earnings results on Thursday, July 30th. The company reported C$0.59 earnings per share for the quarter. MCAN Mortgage had a return on equity of 13.08% and a net margin of 26.55%.The firm had revenue of C$43.34 million for the quarter. As a group, sell-side analysts forecast that MCAN Mortgage Co. will post 2.5108359 EPS for the current year.

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.