Research Analysts Issue Forecasts for Mainstreet Equity Corp.’s Q3 2024 Earnings (TSE:MEQ)

Mainstreet Equity Corp. (TSE:MEQ) – Equities research analysts at Atb Cap Markets raised their Q3 2024 earnings estimates for shares of Mainstreet Equity in a report issued on Tuesday, May 7th. Atb Cap Markets analyst C. Murray now expects that the company will post earnings per share of $2.42 for the quarter, up from their prior estimate of $2.19. The consensus estimate for Mainstreet Equity’s current full-year earnings is $6.81 per share. Atb Cap Markets also issued estimates for Mainstreet Equity’s Q4 2024 earnings at $3.08 EPS, FY2024 earnings at $9.61 EPS, Q1 2025 earnings at $2.52 EPS, Q2 2025 earnings at $2.50 EPS, Q3 2025 earnings at $2.68 EPS, Q4 2025 earnings at $3.41 EPS and FY2025 earnings at $11.12 EPS.

Mainstreet Equity (TSE:MEQ) last announced its quarterly earnings results on Tuesday, February 6th. The company reported C$7.36 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.04 by C$5.32. Mainstreet Equity had a net margin of 74.24% and a return on equity of 12.47%. The firm had revenue of C$58.34 million during the quarter, compared to the consensus estimate of C$56.60 million.

Separately, Laurentian set a C$180.00 price target on shares of Mainstreet Equity and gave the stock a “buy” rating in a research report on Monday, January 22nd.

Mainstreet Equity Price Performance

Mainstreet Equity stock opened at C$172.00 on Friday. Mainstreet Equity has a 52 week low of C$127.66 and a 52 week high of C$194.57. The firm has a market cap of C$1.60 billion, a P/E ratio of 9.82 and a beta of 1.55. The company has a debt-to-equity ratio of 119.54, a quick ratio of 0.81 and a current ratio of 1.00. The business’s fifty day moving average is C$182.53 and its two-hundred day moving average is C$159.90.

Insider Activity

In other Mainstreet Equity news, Director Richard Grimaldi sold 6,400 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of C$163.00, for a total transaction of C$1,043,200.00. Insiders own 48.94% of the company’s stock.

Mainstreet Equity Announces Dividend

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

Mainstreet Equity Company Profile

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.