MCAN Mortgage (TSE:MKP) Reaches New 12-Month High – Time to Buy?

MCAN Mortgage Co. (TSE:MKP) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as C$25.85 and last traded at C$25.81, with a volume of 16943 shares. The stock had previously closed at C$24.72.

Analyst Upgrades and Downgrades

Separately, National Bank Financial set a C$27.00 price target on shares of MCAN Mortgage and gave the company an “outperform” rating in a report on Monday. 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 data from MarketBeat.com, MCAN Mortgage presently has an average rating of “Moderate Buy” and a consensus target price of C$24.67.

MCAN Mortgage Stock Performance

The company has a market cap of C$1.05 billion, a PE ratio of 12.69 and a beta of 0.85. The business has a fifty day moving average of C$24.75 and a 200-day moving average of C$23.64.

MCAN Mortgage (TSE:MKP) last released its quarterly earnings data on Thursday, April 30th. The company reported C$0.57 earnings per share for the quarter. MCAN Mortgage had a return on equity of 12.71% and a net margin of 25.51%.The business had revenue of C$41.60 million during the quarter. As a group, research analysts predict that MCAN Mortgage Co. will post 2.5108359 EPS 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.