Mainstreet Equity (TSE:MEQ) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of Mainstreet Equity Corp. (TSE:MEQ) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$181.73 and traded as high as C$182.99. Mainstreet Equity shares last traded at C$181.63, with a volume of 4,306 shares.

Wall Street Analysts Forecast Growth

Separately, ATB Cormark Capital Markets lifted their target price on Mainstreet Equity from C$240.00 to C$245.00 and gave the company a “moderate buy” rating in a research note on Wednesday, February 11th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of C$246.50.

Mainstreet Equity Price Performance

The company has a 50 day moving average of C$179.03 and a two-hundred day moving average of C$181.73. The firm has a market cap of C$1.69 billion, a P/E ratio of 6.06 and a beta of 0.67. The company has a quick ratio of 0.81, a current ratio of 1.10 and a debt-to-equity ratio of 97.62.

Mainstreet Equity (TSE:MEQ) last issued its quarterly earnings results on Monday, December 15th. The company reported C$9.95 EPS for the quarter. Mainstreet Equity had a net margin of 99.81% and a return on equity of 15.88%. The firm had revenue of C$70.45 million for the quarter. 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.