Mainstreet Equity (TSE:MEQ) Sets New 1-Year High – Time to Buy?

Mainstreet Equity Corp. (TSE:MEQ) shares reached a new 52-week high on Friday . The company traded as high as C$207.39 and last traded at C$207.39, with a volume of 1958 shares traded. The stock had previously closed at C$203.95.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MEQ shares. ATB Capital upped their price target on Mainstreet Equity from C$200.00 to C$215.00 in a report on Wednesday, July 24th. Acumen Capital upped their target price on Mainstreet Equity from C$210.00 to C$220.00 in a research note on Wednesday, July 24th.

Mainstreet Equity Trading Up 1.7 %

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 business has a 50 day moving average of C$195.10 and a 200-day moving average of C$183.58. The stock has a market cap of C$1.93 billion, a PE ratio of 15.10 and a beta of 1.63.

Mainstreet Equity (TSE:MEQ) last posted its earnings results on Tuesday, July 23rd. The company reported C($1.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$2.42 by C($4.12). Mainstreet Equity had a net margin of 52.74% and a return on equity of 9.38%. The company had revenue of C$63.32 million during the quarter, compared to analysts’ expectations of C$62.35 million. On average, analysts anticipate 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. Shareholders of record on Thursday, October 17th will be paid a dividend of $0.027 per share. This represents a $0.11 dividend on an annualized basis and a dividend yield of 0.05%. The ex-dividend date of this dividend is Thursday, October 17th. Mainstreet Equity’s dividend payout ratio is presently 0.81%.

Mainstreet Equity Company Profile

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.