Mainstreet Equity (TSE:MEQ) Stock Crosses Above 200 Day Moving Average of $156.76

Mainstreet Equity Corp. (TSE:MEQ) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$156.76 and traded as high as C$184.51. Mainstreet Equity shares last traded at C$183.90, with a volume of 1,010 shares.

Wall Street Analyst Weigh In

Separately, Laurentian set a C$180.00 price objective on Mainstreet Equity and gave the company a “buy” rating in a research note on Monday, January 22nd.

Mainstreet Equity Stock Performance

The stock’s 50-day moving average price is C$180.82 and its 200 day moving average price is C$156.76. The company has a quick ratio of 0.81, a current ratio of 1.00 and a debt-to-equity ratio of 119.54. The company has a market cap of C$1.71 billion, a P/E ratio of 10.50 and a beta of 1.55.

Mainstreet Equity (TSE:MEQ) last posted its earnings results on Tuesday, February 6th. The company reported C$7.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$2.04 by C$5.32. The business had revenue of C$58.34 million for the quarter, compared to analyst estimates of C$56.60 million. Mainstreet Equity had a net margin of 74.24% and a return on equity of 12.47%. As a group, research analysts expect that Mainstreet Equity Corp. will post 6.8109648 EPS for the current fiscal year.

Mainstreet Equity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 16th will be paid a $0.027 dividend. The ex-dividend date of this dividend is Monday, April 15th. This represents a $0.11 dividend on an annualized basis and a dividend yield of 0.06%. Mainstreet Equity’s payout ratio is presently 0.63%.

Insider Buying and Selling

In related news, Director Richard Grimaldi sold 6,400 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of C$163.00, for a total transaction of C$1,043,200.00. 48.94% of the stock is owned by insiders.

About Mainstreet Equity

Mainstreet Equity Corp. engages in the acquisition, redevelopment, repositioning, and management of mid-market residential rental apartment buildings in Western Canada. The company owns a portfolio of multi-family residential properties in British Columbia, Calgary, Edmonton, Saskatoon, Regina, and Winnipeg.