Mainstreet Equity (TSE:MEQ) Share Price Crosses Above 200 Day Moving Average of $177.81

Mainstreet Equity Corp. (TSE:MEQ) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$177.81 and traded as high as C$194.93. Mainstreet Equity shares last traded at C$194.55, with a volume of 1,150 shares changing hands.

Analysts Set New Price Targets

Several analysts recently issued reports on MEQ shares. Acumen Capital upped their price objective on shares of Mainstreet Equity from C$210.00 to C$220.00 in a research note on Wednesday, July 24th. ATB Capital upped their price target on Mainstreet Equity from C$200.00 to C$215.00 in a research report on Wednesday, July 24th.

Mainstreet Equity Stock Up 1.8 %

The business’s 50 day simple moving average is C$180.40 and its 200 day simple moving average is C$177.95. The company has a debt-to-equity ratio of 117.76, a current ratio of 0.40 and a quick ratio of 0.81. The company has a market capitalization of C$1.81 billion, a PE ratio of 14.39 and a beta of 1.65.

Mainstreet Equity (TSE:MEQ) last posted its earnings results on Tuesday, July 23rd. The company reported C($1.70) earnings per share (EPS) for the quarter, missing the consensus estimate of C$2.42 by C($4.12). Mainstreet Equity had a return on equity of 9.38% and a net margin of 52.74%. The business had revenue of C$63.32 million for the quarter, compared to analyst estimates of C$62.35 million. As a group, analysts anticipate that Mainstreet Equity Corp. will post 8.3069349 earnings per share for the current fiscal year.

Mainstreet Equity Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 17th were given a $0.027 dividend. The ex-dividend date of this dividend was Wednesday, July 17th. This represents a $0.11 dividend on an annualized basis and a yield of 0.06%. Mainstreet Equity’s payout ratio is currently 0.81%.

About Mainstreet Equity

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.