Mainstreet Equity (TSE:MEQ) Reaches New 12-Month Low – What’s Next?

Mainstreet Equity Corp. (TSE:MEQ) shares hit a new 52-week low on Thursday . The company traded as low as C$165.84 and last traded at C$165.86, with a volume of 7442 shares trading hands. The stock had previously closed at C$167.52.

Wall Street Analysts Forecast Growth

Separately, ATB Cormark Capital Markets lifted their price target on shares of Mainstreet Equity from C$240.00 to C$245.00 and gave the company a “moderate buy” rating in a report on Wednesday, February 11th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of C$246.50.

Mainstreet Equity Stock Down 0.9%

The firm has a market capitalization of C$1.54 billion, a price-to-earnings ratio of 8.24 and a beta of 0.68. The company has a current ratio of 0.96, a quick ratio of 0.81 and a debt-to-equity ratio of 97.72. The firm has a 50 day moving average price of C$177.95 and a two-hundred day moving average price of C$179.89.

Mainstreet Equity (TSE:MEQ) last posted its earnings results on Tuesday, May 12th. The company reported C$0.01 earnings per share for the quarter. The business had revenue of C$72.24 million for the quarter. Mainstreet Equity had a net margin of 66.27% and a return on equity of 10.42%. On average, equities analysts expect that Mainstreet Equity Corp. will post 8.1910619 earnings per share for the current fiscal year.

About Mainstreet Equity

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.