Research Analysts Issue Forecasts for Mainstreet Equity Corp.’s Q3 2024 Earnings (TSE:MEQ)

Mainstreet Equity Corp. (TSE:MEQ) – Stock analysts at Atb Cap Markets lifted their Q3 2024 earnings per share (EPS) estimates for shares of Mainstreet Equity in a report issued on Tuesday, May 7th. Atb Cap Markets analyst C. Murray now forecasts that the company will earn $2.42 per share for the quarter, up from their prior forecast of $2.19. The consensus estimate for Mainstreet Equity’s current full-year earnings is $6.81 per share. Atb Cap Markets also issued estimates for Mainstreet Equity’s Q4 2024 earnings at $3.08 EPS, FY2024 earnings at $9.61 EPS, Q1 2025 earnings at $2.52 EPS, Q2 2025 earnings at $2.50 EPS, Q3 2025 earnings at $2.68 EPS, Q4 2025 earnings at $3.41 EPS and FY2025 earnings at $11.12 EPS.

Separately, Laurentian set a C$180.00 price objective on shares of Mainstreet Equity and gave the company a “buy” rating in a research note on Monday, January 22nd.

Mainstreet Equity Stock Performance

TSE:MEQ opened at C$172.00 on Friday. The company has a debt-to-equity ratio of 119.54, a quick ratio of 0.81 and a current ratio of 1.00. Mainstreet Equity has a fifty-two week low of C$127.66 and a fifty-two week high of C$194.57. The company has a 50 day simple moving average of C$182.53 and a two-hundred day simple moving average of C$159.90. The company has a market capitalization of C$1.60 billion, a PE ratio of 9.82 and a beta of 1.55.

Mainstreet Equity (TSE:MEQ) last issued its quarterly earnings results on Tuesday, February 6th. The company reported C$7.36 earnings per share for the quarter, beating the consensus estimate of C$2.04 by C$5.32. Mainstreet Equity had a return on equity of 12.47% and a net margin of 74.24%. The company had revenue of C$58.34 million during the quarter, compared to analysts’ expectations of C$56.60 million.

Mainstreet Equity Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Tuesday, April 16th were given a dividend of $0.027 per share. The ex-dividend date of this dividend was Monday, April 15th. This represents a $0.11 annualized dividend and a dividend yield of 0.06%. Mainstreet Equity’s payout ratio is 0.63%.

Insider Buying and Selling

In other Mainstreet Equity news, Director Richard Grimaldi sold 6,400 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of C$163.00, for a total value of C$1,043,200.00. 48.94% of the stock is currently owned by insiders.

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.