FY2024 Earnings Estimate for Mainstreet Equity Corp. (TSE:MEQ) Issued By Atb Cap Markets

Mainstreet Equity Corp. (TSE:MEQ) – Equities research analysts at Atb Cap Markets increased their FY2024 earnings estimates for Mainstreet Equity in a research report issued on Tuesday, July 23rd. Atb Cap Markets analyst C. Murray now anticipates that the company will post earnings of $11.47 per share for the year, up from their prior forecast of $9.61. The consensus estimate for Mainstreet Equity’s current full-year earnings is $7.19 per share. Atb Cap Markets also issued estimates for Mainstreet Equity’s Q4 2024 earnings at $2.21 EPS, Q1 2025 earnings at $1.88 EPS, Q2 2025 earnings at $1.83 EPS, Q3 2025 earnings at $2.04 EPS, Q4 2025 earnings at $2.56 EPS and FY2025 earnings at $8.32 EPS.

A number of other analysts have also recently issued reports on the company. Acumen Capital lifted their price objective on Mainstreet Equity from C$210.00 to C$220.00 in a research report on Wednesday. ATB Capital lifted their price target on Mainstreet Equity from C$200.00 to C$215.00 in a report on Wednesday.

Mainstreet Equity Trading Down 0.6 %

Mainstreet Equity stock opened at C$190.48 on Friday. Mainstreet Equity has a 12 month low of C$130.00 and a 12 month high of C$194.57. The company has a quick ratio of 0.81, a current ratio of 1.00 and a debt-to-equity ratio of 119.54. The stock has a market cap of C$1.78 billion, a P/E ratio of 10.99 and a beta of 1.55. The company’s fifty day simple moving average is C$170.43 and its 200-day simple moving average is C$171.27.

Mainstreet Equity (TSE:MEQ) last released its quarterly earnings data on Tuesday, May 7th. The company reported C$3.61 earnings per share for the quarter, beating the consensus estimate of C$1.99 by C$1.62. Mainstreet Equity had a net margin of 74.24% and a return on equity of 12.47%. The firm had revenue of C$61.25 million for the quarter, compared to analyst estimates of C$58.95 million.

Insiders Place Their Bets

In related news, Director Ron Anderson purchased 500 shares of Mainstreet Equity stock in a transaction on Thursday, May 9th. The stock was bought at an average price of C$175.20 per share, with a total value of C$87,600.00. Company insiders own 48.94% of the company’s stock.

Mainstreet Equity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 17th will be issued a $0.027 dividend. This represents a $0.11 dividend on an annualized basis and a yield of 0.06%. The ex-dividend date of this dividend is Wednesday, July 17th. Mainstreet Equity’s dividend payout ratio is presently 0.63%.

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.