Mainstreet Equity (TSE:MEQ) Stock Rated Outperform in New Coverage at National Bank Financial

Research analysts at National Bank Financial assumed coverage on shares of Mainstreet Equity (TSE:MEQ) in a research note issued on Friday, MarketBeat.com reports. The brokerage set an “outperform” rating and a C$215.00 price target on the stock. National Bank Financial‘s price objective suggests a potential upside of 21.78% from the stock’s previous close.

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

Mainstreet Equity Stock Performance

Shares of TSE:MEQ opened at C$176.55 on Friday. The business’s fifty day moving average price is C$168.73 and its two-hundred day moving average price is C$173.37. Mainstreet Equity has a fifty-two week low of C$160.08 and a fifty-two week high of C$190.07. The stock has a market capitalization of C$1.64 billion, a price-to-earnings ratio of 9.40 and a beta of 0.79. The company has a debt-to-equity ratio of 95.85, a current ratio of 0.65 and a quick ratio of 0.81.

Mainstreet Equity (TSE:MEQ) last issued its quarterly earnings data on Wednesday, August 5th. The company reported C$3.64 earnings per share (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. As a group, analysts predict that Mainstreet Equity will post 8.19 EPS for the current fiscal year.

Mainstreet Equity Company Profile

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.