Mainstreet Equity (TSE:MEQ) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Mainstreet Equity Corp. (TSE:MEQ) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$185.04 and traded as high as C$185.96. Mainstreet Equity shares last traded at C$184.51, with a volume of 12,333 shares traded.

Wall Street Analysts Forecast Growth

MEQ has been the subject of a number of analyst reports. ATB Cormark Capital Markets lifted their price objective on shares of Mainstreet Equity from C$240.00 to C$245.00 and gave the company a “moderate buy” rating in a research report on Wednesday, February 11th. Acumen Capital cut their target price on shares of 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. Two 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.

Mainstreet Equity Price Performance

The company’s 50-day moving average price is C$178.62 and its two-hundred day moving average price is C$185.04. 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 company has a market capitalization of C$1.72 billion, a P/E ratio of 6.16 and a beta of 0.50.

Mainstreet Equity (TSE:MEQ) last announced its quarterly earnings results on Monday, December 15th. The company reported C$9.95 EPS for the quarter. The business had revenue of C$70.45 million for the quarter. Mainstreet Equity had a net margin of 99.81% and a return on equity of 15.88%. As a group, sell-side analysts expect that Mainstreet Equity Corp. will post 8.1910619 EPS for the current 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.