Mainstreet Equity (TSE:MEQ) Given a C$210.00 Price Target at Canadian Imperial Bank of Commerce

Mainstreet Equity (TSE:MEQ) has been given a C$210.00 price target by equities researchers at Canadian Imperial Bank of Commerce in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The brokerage currently has a “neutral” rating on the stock. Canadian Imperial Bank of Commerce’s target price suggests a potential upside of 22.57% from the stock’s current price.

Separately, ATB Cormark Capital Markets dropped their price target on shares of Mainstreet Equity from C$245.00 to C$225.00 and set an “outperform” rating on the stock in a research note on Monday, June 22nd. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$227.67.

Mainstreet Equity Stock Performance

Shares of TSE MEQ traded down C$0.92 during mid-day trading on Tuesday, hitting C$171.33. 22,740 shares of the company were exchanged, compared to its average volume of 9,176. The stock has a 50 day simple moving average of C$169.35 and a 200-day simple moving average of C$175.79. Mainstreet Equity has a 1-year low of C$160.08 and a 1-year high of C$206.80. The company has a quick ratio of 0.81, a current ratio of 0.96 and a debt-to-equity ratio of 97.72. The firm has a market cap of C$1.59 billion, a price-to-earnings ratio of 8.50 and a beta of 0.79.

Mainstreet Equity (TSE:MEQ) last announced its quarterly earnings data on Tuesday, May 12th. The company reported C$0.01 earnings per share (EPS) for the quarter. The company had revenue of C$72.24 million for the quarter. Mainstreet Equity had a net margin of 66.27% and a return on equity of 10.42%. On average, sell-side analysts forecast that Mainstreet Equity will post 8.1910619 EPS 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.