Mainstreet Equity Corp. (TSE:MEQ – Get Free Report) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$171.34 and traded as high as C$176.90. Mainstreet Equity shares last traded at C$175.01, with a volume of 2,988 shares.
Analyst Ratings Changes
Separately, Canadian Imperial Bank of Commerce set a C$210.00 price objective on Mainstreet Equity and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Mainstreet Equity presently has an average rating of “Moderate Buy” and a consensus target price of C$227.67.
Mainstreet Equity Trading Down 0.3%
The firm has a 50-day moving average of C$167.84 and a 200 day moving average of C$171.33. The company has a market cap of C$1.64 billion, a P/E ratio of 9.40 and a beta of 0.79. The company has a current ratio of 0.65, a quick ratio of 0.81 and a debt-to-equity ratio of 95.85.
Mainstreet Equity (TSE:MEQ – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported C$3.64 EPS for the quarter. The company had revenue of C$73.17 million during the quarter. Mainstreet Equity had a net margin of 60.99% and a return on equity of 9.49%. On average, analysts predict that Mainstreet Equity Corp. will post 8.19 earnings per share for the current fiscal year.
About Mainstreet Equity
Mainstreet Equity Corp. (“Mainstreet”) is a Calgary-based real estate operating company, traded on the Toronto Stock Exchange (TSX: MEQ). Mainstreet is a top provider of high-quality, affordable multi-family rental units in western Canada, covering BC, AB, SK, and MB, with year-to-date holdings of over 19,100 units. The company’s long-term value is anchored by a counter-cyclical strategy to aggressively acquire undervalued units at distressed prices, using low-cost capital. Once acquired, Mainstreet rapidly stabilizes the assets to minimize cycle times and boost net operating income.
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