Mainstreet Equity (TSE:MEQ) Shares Cross Above 200-Day Moving Average – What’s Next?

Mainstreet Equity Corp. (TSE:MEQ)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 trading hands.

Wall Street Analyst Weigh In

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

Mainstreet Equity Trading Up 1.8 %

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 stock has a market capitalization of C$1.90 billion, a P/E ratio of 15.10 and a beta of 1.63. The company has a 50-day moving average price of C$195.10 and a 200 day moving average price of C$183.58.

Mainstreet Equity (TSE:MEQ) last announced its earnings results on Tuesday, July 23rd. The company reported C($1.70) EPS for the quarter, missing analysts’ consensus estimates of C$2.42 by C($4.12). The firm had revenue of C$63.32 million during the quarter, compared to the consensus estimate of C$62.35 million. Mainstreet Equity had a return on equity of 9.38% and a net margin of 52.74%. On average, research analysts forecast that Mainstreet Equity Corp. will post 8.1910619 earnings per share for the current fiscal year.

Mainstreet Equity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 17th will be paid a dividend of $0.027 per share. 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 (DPR) 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.