Mainstreet Equity (TSE:MEQ) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Shares of Mainstreet Equity Corp. (TSE:MEQ) 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.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MEQ. Acumen Capital reduced 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 report on Wednesday, December 17th. ATB Cormark Capital Markets lifted their price objective on shares of Mainstreet Equity from C$240.00 to C$245.00 and gave the stock a “moderate buy” rating in a research note on Wednesday, February 11th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$246.50.

Mainstreet Equity Trading Down 0.3%

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 capitalization of C$1.72 billion, a price-to-earnings ratio of 6.16 and a beta of 0.50. The firm has a fifty day moving average price of C$178.62 and a 200-day moving average price of C$185.04.

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

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.