Mainstreet Equity (TSE:MEQ) PT Set at C$215.00 by National Bank Financial

Key Points

• National Bank Financial set a C$215.00 price target on Mainstreet Equity and maintained an “outperform” rating, implying 22.49% upside from the reported share price.
• Analyst sentiment remains positive: three analysts rate the stock Buy and one rates it Hold, resulting in a “Moderate Buy” consensus and an average target of C$224.50.
• Mainstreet Equity reported quarterly EPS of C$3.64 on C$73.17 million in revenue, with a 60.99% net margin; its shares traded at C$175.52 and the company had a C$1.63 billion market capitalization.

Mainstreet Equity (TSE:MEQ - Get Free Report) has been assigned a C$215.00 price objective by equities research analysts at National Bank Financial in a research note issued to investors on Friday, BayStreet reports. The firm currently has an "outperform" rating on the stock. National Bank Financial's price objective indicates a potential upside of 22.49% from the stock's current price.

Separately, Canadian Imperial Bank of Commerce set a C$210.00 price objective on shares of Mainstreet Equity and gave the company a "neutral" rating in a research report on Tuesday, July 14th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of C$224.50.

Mainstreet Equity Trading Up 0.3%

MEQ stock traded up C$0.50 during midday trading on Friday, reaching C$175.52. The company's stock had a trading volume of 4,991 shares, compared to its average volume of 8,857. The company has a debt-to-equity ratio of 95.85, a quick ratio of 0.81 and a current ratio of 0.65. The stock has a fifty day simple moving average of C$168.50 and a two-hundred day simple moving average of C$173.42. Mainstreet Equity has a 1 year low of C$160.08 and a 1 year high of C$191.62. The firm has a market capitalization of C$1.63 billion, a price-to-earnings ratio of 9.34 and a beta of 0.79.

Mainstreet Equity (TSE:MEQ - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported C$3.64 earnings per share (EPS) for the quarter. The firm had revenue of C$73.17 million during the quarter. Mainstreet Equity had a net margin of 60.99% and a return on equity of 9.49%. On average, equities research analysts predict that Mainstreet Equity will post 8.19 EPS for the current year.

About Mainstreet Equity

Mainstreet Equity Corp. ("Mainstreet") is a Calgary-based real estate operating company, traded on the Toronto Stock Exchange TSX: MEQ. Mainstreet is a top provider of high-quality, affordable multi-family rental units in western Canada, covering BC, AB, SK, and MB, with year-to-date holdings of over 19,100 units. The company's long-term value is anchored by a counter-cyclical strategy to aggressively acquire undervalued units at distressed prices, using low-cost capital. Once acquired, Mainstreet rapidly stabilizes the assets to minimize cycle times and boost net operating income.

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