Mainstreet Equity (TSE:MEQ) Issues Earnings Results

Mainstreet Equity (TSE:MEQ) announced its quarterly earnings results on Tuesday. The company reported C$0.01 EPS for the quarter, FiscalAI reports. Mainstreet Equity had a net margin of 99.81% and a return on equity of 15.88%. The firm had revenue of C$72.24 million during the quarter.

Mainstreet Equity Price Performance

Shares of TSE MEQ traded down C$1.90 during mid-day trading on Tuesday, hitting C$171.42. 3,656 shares of the stock were exchanged, compared to its average volume of 9,719. Mainstreet Equity has a twelve month low of C$170.00 and a twelve month high of C$206.80. The stock’s fifty day simple moving average is C$180.33 and its two-hundred day simple moving average is C$181.25. The company has a debt-to-equity ratio of 97.62, a quick ratio of 0.81 and a current ratio of 1.10. The company has a market cap of C$1.59 billion, a P/E ratio of 5.72 and a beta of 0.68.

Wall Street Analysts Forecast Growth

Separately, ATB Cormark Capital Markets raised their target price 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, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of C$246.50.

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.