Mainstreet Equity (TSE:MEQ) Stock Price Passes Below 200 Day Moving Average – Here’s Why

Mainstreet Equity Corp. (TSE:MEQ) shares 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.

Wall Street Analyst Weigh In

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

Mainstreet Equity Trading Up 0.3%

The company has a 50 day moving average of C$170.08 and a 200 day moving average of C$176.00. The firm has a market cap of C$1.61 billion, a price-to-earnings ratio of 8.62 and a beta of 0.79. 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 released its quarterly earnings data on Tuesday, May 12th. The company reported C$0.01 earnings per share (EPS) for the quarter. The firm had revenue of C$72.24 million during the quarter. Mainstreet Equity had a return on equity of 10.42% and a net margin of 66.27%. As a group, research analysts anticipate that Mainstreet Equity Corp. will post 8.1910619 EPS for the current 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.