Mainstreet Equity (TSE:MEQ) Releases Earnings Results

Mainstreet Equity (TSE:MEQ) released its earnings results on Wednesday. The company reported C$3.64 earnings per share for the quarter, FiscalAI reports. The company had revenue of C$73.17 million during the quarter. Mainstreet Equity had a return on equity of 10.42% and a net margin of 66.27%.

Mainstreet Equity Trading Down 0.2%

MEQ stock traded down C$0.39 on Thursday, reaching C$170.61. The company’s stock had a trading volume of 6,665 shares, compared to its average volume of 9,083. The firm has a market cap of C$1.58 billion, a PE ratio of 8.47 and a beta of 0.79. The business has a fifty day simple moving average of C$171.58 and a two-hundred day simple moving average of C$175.28. Mainstreet Equity has a 12-month low of C$160.08 and a 12-month high of C$206.80. The company has a debt-to-equity ratio of 97.72, a quick ratio of 0.81 and a current ratio of 0.96.

Wall Street Analysts Forecast Growth

MEQ has been the topic of a number of analyst reports. Canadian Imperial Bank of Commerce set a C$210.00 price target on Mainstreet Equity and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. ATB Cormark Capital Markets cut their target price on shares of Mainstreet Equity from C$245.00 to C$225.00 and set an “outperform” rating on the stock in a report on Monday, June 22nd. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Mainstreet Equity currently has an average rating of “Moderate Buy” and an average target price of C$227.67.

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.