Mainstreet Equity (TSE:MEQ) Stock Price Passes Below 200 Day Moving Average – What’s Next?

Mainstreet Equity Corp. (TSE:MEQ)’s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$183.26 and traded as low as C$174.90. Mainstreet Equity shares last traded at C$175.93, with a volume of 4,404 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. ATB Cormark Capital Markets boosted their price objective on Mainstreet Equity from C$240.00 to C$245.00 and gave the stock a “moderate buy” rating in a research report on Wednesday, February 11th. Acumen Capital reduced 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 investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of C$246.50.

Mainstreet Equity Stock Performance

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 stock has a fifty day simple moving average of C$178.23 and a two-hundred day simple moving average of C$183.26. The stock has a market capitalization of C$1.64 billion, a price-to-earnings ratio of 5.87 and a beta of 0.66.

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