MCAN Mortgage (TSE:MKP) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Shares of MCAN Mortgage Co. (TSE:MKP) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$16.96 and traded as high as C$18.50. MCAN Mortgage shares last traded at C$18.50, with a volume of 79,784 shares.

Analysts Set New Price Targets

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

MCAN Mortgage Stock Down 0.4 %

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 50-day simple moving average of C$18.11 and a two-hundred day simple moving average of C$16.98. The stock has a market cap of C$702.72 million, a P/E ratio of 8.37 and a beta of 0.85.

MCAN Mortgage (TSE:MKP) last posted its quarterly earnings data 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%. Equities research analysts expect that MCAN Mortgage Co. will post 2.5108359 earnings per share for the current fiscal year.

MCAN Mortgage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 8.47%. The ex-dividend date was Friday, September 13th. MCAN Mortgage’s payout ratio is presently 70.91%.

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.