Mainstreet Equity (TSE:MEQ) Reaches New 1-Year Low – Time to Sell?

Mainstreet Equity Corp. (TSE:MEQ)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as C$162.28 and last traded at C$163.15, with a volume of 14493 shares traded. The stock had previously closed at C$165.29.

Wall Street Analysts Forecast Growth

Separately, ATB Cormark Capital Markets boosted 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 report on Wednesday, February 11th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of C$246.50.

Mainstreet Equity Stock Performance

The firm has a market cap of C$1.52 billion, a P/E ratio of 8.10 and a beta of 0.68. The stock’s 50 day moving average is C$176.71 and its two-hundred day moving average is C$179.26. The company has a debt-to-equity ratio of 97.72, a current ratio of 0.96 and a quick ratio of 0.81.

Mainstreet Equity (TSE:MEQ) last posted its earnings results on Tuesday, May 12th. The company reported C$0.01 earnings per share for the quarter. The business had revenue of C$72.24 million for the quarter. Mainstreet Equity had a net margin of 66.27% and a return on equity of 10.42%. As a group, equities analysts predict 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.