Mainstreet Equity (TSE:MEQ) Given a C$215.00 Price Target by National Bank Financial Analysts

Mainstreet Equity (TSE:MEQ) has been given a C$215.00 price objective by analysts at National Bank Financial in a research note issued to investors on Friday, BayStreet reports. The firm presently has an “outperform” rating on the stock. National Bank Financial‘s target price indicates a potential upside of 22.49% from the stock’s previous close.

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

Mainstreet Equity Stock Performance

Mainstreet Equity stock traded up C$0.50 during mid-day trading on Friday, reaching C$175.52. 4,991 shares of the company traded hands, compared to its average volume of 8,857. Mainstreet Equity has a fifty-two week low of C$160.08 and a fifty-two week high of C$191.62. The firm’s fifty day moving average is C$168.50 and its two-hundred day moving average is C$173.42. The company has a debt-to-equity ratio of 95.85, a current ratio of 0.65 and a quick ratio of 0.81. The company 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) last issued its quarterly earnings results on Wednesday, August 5th. The company reported C$3.64 EPS for the quarter. Mainstreet Equity had a return on equity of 9.49% and a net margin of 60.99%. The company had revenue of C$73.17 million during the quarter. On average, equities research analysts expect that Mainstreet Equity will post 8.19 earnings per share for the current fiscal 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.