Mainstreet Equity (TSE:MEQ) Reaches New 52-Week High at $62.29

Shares of Mainstreet Equity Corp. (TSE:MEQ) hit a new 52-week high during trading on Monday . The company traded as high as C$62.29 and last traded at C$62.29, with a volume of 175 shares trading hands. The stock had previously closed at C$62.00.

Separately, TD Securities increased their price target on shares of Mainstreet Equity from C$59.00 to C$62.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th.

The stock has a market cap of $583.56 million and a PE ratio of 9.09. The company has a current ratio of 0.05, a quick ratio of 0.02 and a debt-to-equity ratio of 140.42. The business’s 50 day simple moving average is C$57.89.

Mainstreet Equity (TSE:MEQ) last announced its quarterly earnings results on Tuesday, May 14th. The company reported C$1.36 EPS for the quarter, beating analysts’ consensus estimates of C$0.79 by C$0.57. The firm had revenue of C$33.74 million during the quarter, compared to analyst estimates of C$31.48 million. On average, research analysts anticipate that Mainstreet Equity Corp. will post 2.9000002 earnings per share for the current year.

In other Mainstreet Equity news, Senior Officer Sheena Keslick sold 1,100 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of C$60.00, for a total value of C$66,000.00. Following the completion of the sale, the insider now owns 1,000 shares in the company, valued at C$60,000. In the last quarter, insiders sold 1,700 shares of company stock valued at $99,687.

About Mainstreet Equity (TSE:MEQ)

Mainstreet Equity Corp., a real estate corporation, engages in the acquisition, divestiture, value-enhancement, and management of multi-family residential properties primarily in Western Canada. The company owns a portfolio of mid-market rental apartment buildings in Vancouver lower mainland, Calgary and Southern Alberta, Edmonton, Regina, and Saskatoon.

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