MCAN Mortgage (TSE:MKP) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

MCAN Mortgage Co. (TSE:MKP)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$18.12 and traded as high as C$18.54. MCAN Mortgage shares last traded at C$18.43, with a volume of 33,741 shares.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group set a C$19.00 target price on shares of MCAN Mortgage and gave the stock a “buy” rating in a research report on Tuesday, October 15th.

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 stock has a market cap of C$703.10 million, a P/E ratio of 8.38 and a beta of 0.85. The company’s 50-day simple moving average is C$18.49 and its 200 day simple moving average is C$18.12.

MCAN Mortgage (TSE:MKP) last posted its quarterly earnings results on Monday, November 11th. The company reported C$0.70 EPS for the quarter. MCAN Mortgage had a net margin of 61.99% and a return on equity of 14.76%. As a group, sell-side analysts expect that MCAN Mortgage Co. will post 2.5108359 EPS for the current fiscal year.

About MCAN Mortgage

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.