MCAN Mortgage (TSE:MKP) Shares Cross Above 200 Day Moving Average - Time to Sell?

Key Points

• MCAN Mortgage crossed above its 200‑day moving average, trading as high as C$25.74 and last at C$25.15 versus a 200‑day average of C$22.83 on volume of 72,728 shares.
• Analyst sentiment is positive: Canaccord raised its price target from C$24 to C$26 and assigned a Buy rating, and the consensus from MarketBeat is a "Moderate Buy" with an average target of C$23.50.
• Underlying fundamentals look solid: the company has a C$1.02B market cap, a P/E of 12.39, reported quarterly EPS of C$0.57 with a 12.71% ROE and 29.5% net margin, and analysts forecast about C$2.51 EPS for the fiscal year.

MCAN Mortgage Co. (TSE:MKP - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$22.83 and traded as high as C$25.74. MCAN Mortgage shares last traded at C$25.15, with a volume of 72,728 shares changing hands.

Wall Street Analysts Forecast Growth

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

MCAN Mortgage Stock Performance

The firm has a fifty day simple moving average of C$23.66 and a 200-day simple moving average of C$22.83. The firm has a market cap of C$1.02 billion, a price-to-earnings ratio of 12.39 and a beta of 0.67.

MCAN Mortgage (TSE:MKP - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported C$0.57 earnings per share (EPS) for the quarter. MCAN Mortgage had a return on equity of 12.71% and a net margin of 29.50%.The business had revenue of C$41.60 million during the quarter. Analysts expect 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.

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