Mainstreet Equity (TSE:MEQ) Hits New 12-Month Low – Here’s Why

Mainstreet Equity Corp. (TSE:MEQ)’s share price reached a new 52-week low during 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 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 investment analysts have rated the stock with a Buy rating, According to MarketBeat, Mainstreet Equity presently has an average rating of “Buy” and an average target price of C$246.50.

Mainstreet Equity Trading Down 2.0%

The firm’s 50 day moving average price is C$180.33 and its 200-day moving average price is C$181.25. 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 stock has a market cap of C$1.58 billion, a P/E ratio of 5.67 and a beta of 0.68.

Mainstreet Equity (TSE:MEQ) last announced its quarterly earnings data on Tuesday, May 12th. The company reported C$0.01 earnings per share for the quarter. The company had revenue of C$72.24 million during the quarter. Mainstreet Equity had a net margin of 99.81% and a return on equity of 15.88%. As a group, equities research analysts forecast 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.