MCAN Mortgage (TSE:MKP) Sets New 1-Year High – Here’s What Happened

Shares of MCAN Mortgage Co. (TSE:MKP) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$18.93 and last traded at C$18.87, with a volume of 38216 shares changing hands. The stock had previously closed at C$18.25.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group set a C$19.00 price target 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 firm has a market cap of C$749.65 million, a price-to-earnings ratio of 8.93 and a beta of 0.85. 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 company’s 50-day moving average is C$18.13 and its 200-day moving average is C$17.01.

MCAN Mortgage (TSE:MKP) last announced its earnings results on Monday, August 12th. The company reported C$0.52 earnings per share for the quarter. MCAN Mortgage had a net margin of 61.99% and a return on equity of 14.76%. Equities research analysts predict that MCAN Mortgage Co. will post 2.5108359 earnings per share for the current year.

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.