Mainstreet Equity (TSE:MEQ) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Shares of Mainstreet Equity Corp. (TSE:MEQ) crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of C$173.42 and traded as high as C$177.48. Mainstreet Equity shares last traded at C$175.02, with a volume of 12,866 shares.

Wall Street Analysts Forecast Growth

MEQ has been the subject of a number of recent analyst reports. 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. National Bank Financial set a C$215.00 price target on Mainstreet Equity and gave the company an “outperform” rating in a research note on Friday. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$224.50.

Mainstreet Equity Stock Down 1.1%

The company’s 50 day moving average price is C$168.60 and its 200 day moving average price is C$173.38. The company has a quick ratio of 0.81, a current ratio of 0.65 and a debt-to-equity ratio of 95.85. The firm has a market capitalization of C$1.60 billion, a price-to-earnings ratio of 9.21 and a beta of 0.79.

Mainstreet Equity (TSE:MEQ) last released its earnings results on Wednesday, August 5th. The company reported C$3.64 earnings per share (EPS) for the quarter. The firm had revenue of C$73.17 million for the quarter. Mainstreet Equity had a return on equity of 9.49% and a net margin of 60.99%. As a group, research analysts forecast that Mainstreet Equity Corp. will post 8.19 earnings per share for the current fiscal year.

Mainstreet Equity Company Profile

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.