Mainstreet Equity (TSE:MEQ) Sets New 1-Year Low – What’s Next?

Shares of Mainstreet Equity Corp. (TSE:MEQ) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as C$169.80 and last traded at C$169.80, with a volume of 7583 shares. The stock had previously closed at C$173.32.

Analyst Ratings Changes

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

Mainstreet Equity Stock Performance

The company has a market capitalization of C$1.57 billion, a price-to-earnings ratio of 5.62 and a beta of 0.68. The stock has a fifty day moving average price of C$179.27 and a two-hundred day moving average price of C$180.62. The company has a quick ratio of 0.81, a current ratio of 0.96 and a debt-to-equity ratio of 97.72.

Mainstreet Equity (TSE:MEQ) last released its quarterly earnings results on Tuesday, May 12th. The company reported C$0.01 earnings per share for the quarter. Mainstreet Equity had a return on equity of 10.42% and a net margin of 66.27%.The company had revenue of C$72.24 million during the quarter. As a group, analysts forecast that Mainstreet Equity Corp. will post 8.1910619 EPS 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.