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

Mainstreet Equity Corp. (TSE:MEQ)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$183.58 and traded as high as C$203.95. Mainstreet Equity shares last traded at C$203.95, with a volume of 2,049 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MEQ. ATB Capital lifted their price objective on shares of Mainstreet Equity from C$200.00 to C$215.00 in a research note on Wednesday, July 24th. Acumen Capital increased their price target on shares of Mainstreet Equity from C$210.00 to C$220.00 in a report on Wednesday, July 24th.

Mainstreet Equity Price Performance

The firm has a market cap of C$1.94 billion, a PE ratio of 15.39 and a beta of 1.63. The company has a current ratio of 0.40, a quick ratio of 0.81 and a debt-to-equity ratio of 117.76. The company has a 50 day moving average price of C$195.51 and a 200 day moving average price of C$183.75.

Mainstreet Equity (TSE:MEQ) last released its quarterly earnings data on Tuesday, July 23rd. The company reported C($1.70) EPS for the quarter, missing the consensus estimate of C$2.42 by C($4.12). Mainstreet Equity had a return on equity of 9.38% and a net margin of 52.74%. The business had revenue of C$63.32 million during the quarter, compared to analysts’ expectations of C$62.35 million. On average, sell-side analysts expect that Mainstreet Equity Corp. will post 8.1910619 EPS for the current year.

Mainstreet Equity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 17th will be given a $0.027 dividend. The ex-dividend date is Thursday, October 17th. This represents a $0.11 annualized dividend and a dividend yield of 0.05%. Mainstreet Equity’s dividend payout ratio is presently 0.81%.

About Mainstreet Equity

Mainstreet Equity Corp. engages in the acquisition, redevelopment, repositioning, and management of mid-market residential rental apartment buildings in Western Canada. The company owns a portfolio of multi-family residential properties in British Columbia, Calgary, Edmonton, Saskatoon, Regina, and Winnipeg.