Mainstreet Equity (TSE:MEQ) Shares Cross Above 200 Day Moving Average - Here's Why

Key Points

• Mainstreet Equity (TSE:MEQ) crossed above its 200-day moving average
• Analyst sentiment is positive — two firms rate the stock a Buy and the consensus target price is C$246.50, with ATB Cormark raising its target to C$245 and Acumen at C$248.
• The company has a market cap of C$1.69 billion and a low P/E of 6.07, reported quarterly EPS of C$9.95 on C$70.45 million in revenue, but carries a high debt-to-equity ratio of 97.62.

Mainstreet Equity Corp. (TSE:MEQ - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$181.94 and traded as high as C$182.97. Mainstreet Equity shares last traded at C$181.85, with a volume of 7,714 shares traded.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MEQ. ATB Cormark Capital Markets lifted 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. Acumen Capital cut their price target on Mainstreet Equity from C$250.00 to C$248.00 and set a "buy" rating on the stock in a report on Wednesday, December 17th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Mainstreet Equity presently has a consensus rating of "Buy" and a consensus target price of C$246.50.

Mainstreet Equity Stock Performance

The stock has a fifty day moving average price of C$178.27 and a two-hundred day moving average price of C$181.94. The company has a market cap of C$1.69 billion, a P/E ratio of 6.07 and a beta of 0.67. The company has a debt-to-equity ratio of 97.62, a current ratio of 1.10 and a quick ratio of 0.81.

Mainstreet Equity (TSE:MEQ - Get Free Report) last released its quarterly earnings results on Monday, December 15th. The company reported C$9.95 earnings per share for the quarter. The company had revenue of C$70.45 million for the quarter. Mainstreet Equity had a return on equity of 15.88% and a net margin of 99.81%. On average, equities analysts forecast 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.

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