MCAN Mortgage (TSE:MKP) Hits New 12-Month High – What’s Next?

MCAN Mortgage Co. (TSE:MKP) shares hit 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 traded. The stock had previously closed at C$24.72.

Analysts Set New Price Targets

Separately, National Bank Financial set a C$27.00 price target on MCAN Mortgage and gave the company an “outperform” rating in a research note on Monday. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, MCAN Mortgage presently has a consensus rating of “Moderate Buy” and a consensus price target of C$24.67.

MCAN Mortgage Stock Performance

The company has a market capitalization of C$1.04 billion, a price-to-earnings ratio of 12.64 and a beta of 0.85. The firm has a fifty day moving average price of C$24.70 and a 200-day moving average price of C$23.60.

MCAN Mortgage (TSE:MKP) last posted its quarterly earnings results on Thursday, April 30th. The company reported C$0.57 EPS 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. On average, sell-side analysts forecast that MCAN Mortgage Co. will post 2.5108359 EPS 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.