Mainstreet Equity (TSE:MEQ) Hits New 52-Week Low – Here’s What Happened

Mainstreet Equity Corp. (TSE:MEQ)’s stock price reached a new 52-week low during trading on Thursday . The company traded as low as C$165.84 and last traded at C$165.86, with a volume of 7442 shares trading hands. The stock had previously closed at C$167.52.

Analyst Ratings Changes

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

Mainstreet Equity Stock Down 0.2%

The business has a 50-day simple moving average of C$177.26 and a 200-day simple moving average of C$179.63. The company has a debt-to-equity ratio of 97.72, a quick ratio of 0.81 and a current ratio of 0.96. The company has a market cap of C$1.54 billion, a price-to-earnings ratio of 8.22 and a beta of 0.68.

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

Mainstreet Equity Company Profile

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.