MCAN Mortgage (TSE:MKP) Sets New 12-Month High – Still a Buy?

MCAN Mortgage Co. (TSE:MKP) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$18.88 and last traded at C$18.88, with a volume of 14040 shares traded. The stock had previously closed at C$18.68.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group set a C$19.00 target price on shares of MCAN Mortgage and gave the company a “buy” rating in a report on Tuesday.

MCAN Mortgage Stock Performance

The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 373.58. The firm has a fifty day moving average price of C$17.63 and a 200 day moving average price of C$16.62. The firm has a market cap of C$714.93 million, a PE ratio of 8.49 and a beta of 0.85.

MCAN Mortgage (TSE:MKP) last posted its quarterly earnings results on Monday, August 12th. The company reported C$0.52 EPS for the quarter. MCAN Mortgage had a return on equity of 14.76% and a net margin of 61.99%. As a group, equities research analysts expect that MCAN Mortgage Co. will post 2.5108359 earnings per share for the current fiscal year.

MCAN Mortgage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a $0.39 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.56 dividend on an annualized basis and a yield of 8.32%. MCAN Mortgage’s payout ratio is currently 70.91%.

MCAN Mortgage Company Profile

MCAN Mortgage Corporation operates as a loan and mortgage investment corporation in Canada. The company engages in the real estate lending and investing activities, including residential mortgage, residential construction, non-residential construction, and commercial loans, as well as portfolio of real estate investments trusts and private investment activities.