Mainstreet Equity (TSE:MEQ) Posts Earnings Results

Mainstreet Equity (TSE:MEQ) announced its quarterly earnings data on Tuesday. The company reported C$0.01 earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of C$72.24 million during the quarter. Mainstreet Equity had a return on equity of 15.88% and a net margin of 99.81%.

Mainstreet Equity Trading Down 1.7%

MEQ stock opened at C$167.20 on Thursday. Mainstreet Equity has a 1-year low of C$167.17 and a 1-year high of C$206.80. The company has a debt-to-equity ratio of 97.62, a current ratio of 1.10 and a quick ratio of 0.81. The company has a market capitalization of C$1.56 billion, a price-to-earnings ratio of 5.58 and a beta of 0.68. The business has a 50 day simple moving average of C$179.58 and a two-hundred day simple moving average of C$180.83.

Wall Street Analysts Forecast Growth

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

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.