Mainstreet Equity (MEQ) PT Raised to C$59.00 at TD Securities

Mainstreet Equity (TSE:MEQ) had its target price hoisted by analysts at TD Securities from C$55.00 to C$59.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. TD Securities’ target price would suggest a potential upside of 10.80% from the stock’s previous close.

Separately, Laurentian restated a “buy” rating and set a C$55.00 price target on shares of Mainstreet Equity in a research note on Monday, February 4th.

MEQ traded up C$0.25 during midday trading on Wednesday, reaching C$53.25. 1,100 shares of the company’s stock were exchanged, compared to its average volume of 1,591. The stock has a market cap of $491.15 million and a price-to-earnings ratio of 6.77. The company has a quick ratio of 0.01, a current ratio of 0.07 and a debt-to-equity ratio of 133.24. Mainstreet Equity has a one year low of C$40.45 and a one year high of C$53.25.

Mainstreet Equity (TSE:MEQ) last announced its quarterly earnings results on Thursday, February 14th. The company reported C$0.61 EPS for the quarter, missing analysts’ consensus estimates of C$0.80 by C($0.19). The business had revenue of C$32.65 million for the quarter, compared to analysts’ expectations of C$30.95 million. Equities research analysts expect that Mainstreet Equity will post 2.40000022005733 EPS for the current fiscal year.

About Mainstreet Equity

Mainstreet Equity Corp., a real estate corporation, engages in the acquisition, divestiture, value-enhancement, and management of multi-family residential properties primarily in Western Canada. The company owns a portfolio of mid-market rental apartment buildings in Vancouver lower mainland, Calgary and Southern Alberta, Edmonton, Regina, and Saskatoon.

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