Mainstreet Equity (TSE:MEQ) Reaches New 12-Month Low – Time to Sell?

Mainstreet Equity Corp. (TSE:MEQ) shares hit a new 52-week low on Tuesday . The stock traded as low as C$172.70 and last traded at C$174.00, with a volume of 3432 shares changing hands. The stock had previously closed at C$174.22.

Analyst Ratings Changes

MEQ has been the subject of several research analyst reports. Acumen Capital dropped their price objective on Mainstreet Equity from C$250.00 to C$248.00 and set a “buy” rating for the company in a research note on Wednesday, December 17th. ATB Cormark Capital Markets raised their price target on Mainstreet Equity from C$240.00 to C$245.00 and gave the company a “moderate buy” rating in a report on Wednesday, February 11th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of C$246.50.

Mainstreet Equity Stock Performance

The firm has a market cap of C$1.63 billion, a P/E ratio of 5.85 and a beta of 0.50. The business’s fifty day simple moving average is C$178.49 and its 200-day simple moving average is C$186.07. The company has a current ratio of 0.51, a quick ratio of 0.81 and a debt-to-equity ratio of 109.80.

Mainstreet Equity (TSE:MEQ) last posted its earnings results on Monday, December 15th. The company reported C$9.95 earnings per share (EPS) for the quarter. Mainstreet Equity had a return on equity of 12.68% and a net margin of 72.44%.The firm had revenue of C$70.45 million for the quarter. As a group, sell-side analysts expect that Mainstreet Equity Corp. will post 8.1910619 earnings per share 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.