Mainstreet Equity (TSE:MEQ) Hits New 12-Month Low – Here’s Why

Mainstreet Equity Corp. (TSE:MEQ) shares reached a new 52-week low during trading on Tuesday . The company traded as low as C$169.80 and last traded at C$169.80, with a volume of 7583 shares trading hands. The stock had previously closed at C$173.32.

Analysts Set New Price Targets

Separately, ATB Cormark Capital Markets upped their price target on Mainstreet Equity from C$240.00 to C$245.00 and gave the stock a “moderate buy” rating in a research note on Wednesday, February 11th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of C$246.50.

Mainstreet Equity Stock Performance

The company has a debt-to-equity ratio of 97.62, a quick ratio of 0.81 and a current ratio of 1.10. The business’s 50-day moving average is C$180.33 and its 200-day moving average is C$181.25. The company has a market capitalization of C$1.58 billion, a PE ratio of 5.67 and a beta of 0.68.

Mainstreet Equity (TSE:MEQ) last announced its quarterly earnings data on Tuesday, May 12th. The company reported C$0.01 earnings per share for the quarter. Mainstreet Equity had a net margin of 99.81% and a return on equity of 15.88%. The business had revenue of C$72.24 million for the quarter. On average, research analysts anticipate that Mainstreet Equity Corp. will post 8.1910619 earnings per share for the current year.

Mainstreet Equity Company Profile

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.