Mainstreet Equity (TSE:MEQ) Shares Cross Below 200-Day Moving Average – What’s Next?

Mainstreet Equity Corp. (TSE:MEQ) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$176.00 and traded as low as C$165.08. Mainstreet Equity shares last traded at C$173.63, with a volume of 6,351 shares changing hands.

Analysts Set New Price Targets

Separately, ATB Cormark Capital Markets lowered their price target on Mainstreet Equity from C$245.00 to C$225.00 and set an “outperform” rating for the company in a research report on Monday, June 22nd. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of C$236.50.

Mainstreet Equity Stock Performance

The stock has a market capitalization of C$1.63 billion, a PE ratio of 8.71 and a beta of 0.79. The business’s 50 day moving average is C$169.68 and its 200 day moving average is C$175.90. The company has a current ratio of 0.96, a quick ratio of 0.81 and a debt-to-equity ratio of 97.72.

Mainstreet Equity (TSE:MEQ) last posted its quarterly earnings data on Tuesday, May 12th. The company reported C$0.01 earnings per share for the quarter. The company 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 research analysts predict 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.