MCAN Mortgage (TSE:MKP) Stock Passes Above 200 Day Moving Average – Here’s What Happened

MCAN Mortgage Co. (TSE:MKP)’s stock price 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 trading hands.

Analyst Upgrades and Downgrades

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 Price Performance

The stock has a market cap of C$713.02 million, a P/E ratio of 8.50 and a beta of 0.85. The company has a 50 day simple moving average of C$18.71 and a 200 day simple moving average of C$17.95. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 373.58.

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

MCAN Mortgage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 13th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 8.35%. The ex-dividend date was Friday, December 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.