Mainstreet Equity (TSE:MEQ) Price Target Raised to C$245.00

Mainstreet Equity (TSE:MEQ) had its price objective lifted by research analysts at Atb Cormark Cm from C$240.00 to C$245.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Atb Cormark Cm’s target price indicates a potential upside of 40.04% from the company’s current price.

A number of other research firms also recently issued reports on MEQ. Acumen Capital reduced their price objective on Mainstreet Equity from C$250.00 to C$248.00 and set a “buy” rating on the stock in a research note on Wednesday, December 17th. ATB Capital boosted their price target on shares of Mainstreet Equity from C$235.00 to C$240.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 17th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, Mainstreet Equity presently has an average rating of “Buy” and an average price target of C$244.33.

Mainstreet Equity Price Performance

MEQ traded up C$1.65 during trading on Wednesday, hitting C$174.95. 6,349 shares of the company traded hands, compared to its average volume of 10,183. The company has a current ratio of 0.51, a quick ratio of 0.81 and a debt-to-equity ratio of 109.80. The company has a market cap of C$1.63 billion, a PE ratio of 5.68 and a beta of 0.50. The stock’s 50-day simple moving average is C$179.34 and its two-hundred day simple moving average is C$186.41. Mainstreet Equity has a 1 year low of C$170.00 and a 1 year high of C$206.80.

Mainstreet Equity (TSE:MEQ) last released its quarterly earnings data on Monday, December 15th. The company reported C$9.95 EPS for the quarter. Mainstreet Equity had a net margin of 72.44% and a return on equity of 12.68%. The business had revenue of C$70.45 million during the quarter. As a group, sell-side analysts anticipate that Mainstreet Equity will post 8.1910619 earnings per share for the current fiscal year.

About Mainstreet Equity

Mainstreet Equity Corp is a residential real estate company. It is focused on the acquisition, redevelopment, repositioning, and management of mid-market rental apartment buildings. The business specializes in multi-family residential housing operating in a single segment. Geographically it operates in Canadian provinces including British Columbia, Alberta, Saskatchewan and Manitoba. The company generates revenue from rental income and others.