MCAN Mortgage (TSE:MKP) Shares Pass Above 200-Day Moving Average – What’s Next?

MCAN Mortgage Co. (TSE:MKP) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$18.03 and traded as high as C$18.66. MCAN Mortgage shares last traded at C$18.59, with a volume of 36,171 shares changing hands.

Wall Street Analyst Weigh In

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

MCAN Mortgage Stock Down 1.0 %

The company has a debt-to-equity ratio of 373.58, a current ratio of 1.97 and a quick ratio of 1.97. The firm’s 50-day moving average price is C$18.62 and its 200 day moving average price is C$18.03. The firm has a market cap of C$709.21 million, a P/E ratio of 8.45 and a beta of 0.85.

MCAN Mortgage (TSE:MKP) last issued its earnings results on Monday, November 11th. The company reported C$0.70 earnings per share (EPS) for the quarter. MCAN Mortgage had a net margin of 61.99% and a return on equity of 14.76%. On average, 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 company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were paid a $0.39 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.56 annualized dividend and a dividend yield of 8.39%. 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.