MCAN Mortgage (TSE:MKP) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of MCAN Mortgage Co. (TSE:MKP) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$17.93 and traded as high as C$18.63. MCAN Mortgage shares last traded at C$18.45, with a volume of 41,412 shares traded.

Analysts Set New Price Targets

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

MCAN Mortgage Price Performance

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 company’s 50-day simple moving average is C$18.72 and its 200-day simple moving average is C$17.93. The stock has a market capitalization of C$703.87 million, a price-to-earnings ratio of 8.39 and a beta of 0.85.

MCAN Mortgage (TSE:MKP) last released its quarterly earnings results on Monday, November 11th. The company reported C$0.70 earnings per share for the quarter. MCAN Mortgage had a net margin of 61.99% and a return on equity of 14.76%. Research analysts forecast that MCAN Mortgage Co. will post 2.5108359 earnings per share for the current fiscal year.

MCAN Mortgage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were given a $0.39 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 8.46%. MCAN Mortgage’s payout ratio is 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.