Main Street Capital (NYSE:MAIN) Releases Q1 Earnings Guidance

Main Street Capital (NYSE:MAIN) issued an update on its first quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.04-$1.06 for the period, compared to the consensus estimate of $1.02.

Main Street Capital Trading Up 0.6 %

NYSE MAIN opened at $47.22 on Friday. Main Street Capital has a 12 month low of $37.70 and a 12 month high of $47.82. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.14. The business’s 50-day moving average price is $46.12 and its two-hundred day moving average price is $43.43. The firm has a market capitalization of $4.01 billion, a PE ratio of 9.05 and a beta of 1.29.

Main Street Capital (NYSE:MAIN) last announced its earnings results on Thursday, February 22nd. The financial services provider reported $1.12 EPS for the quarter, beating the consensus estimate of $1.06 by $0.06. Main Street Capital had a return on equity of 14.99% and a net margin of 85.62%. The company had revenue of $129.31 million for the quarter, compared to analyst estimates of $125.52 million. On average, analysts expect that Main Street Capital will post 4.07 EPS for the current year.

Main Street Capital Increases Dividend

The company also recently declared a dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 20th were paid a dividend of $0.30 per share. This is an increase from Main Street Capital’s previous dividend of $0.24. This represents a yield of 8.37%. The ex-dividend date of this dividend was Tuesday, March 19th. Main Street Capital’s dividend payout ratio is 55.17%.

Wall Street Analyst Weigh In

MAIN has been the subject of several analyst reports. Truist Financial increased their price objective on Main Street Capital from $43.00 to $45.00 and gave the stock a hold rating in a research note on Monday, February 26th. Royal Bank of Canada increased their price objective on Main Street Capital from $46.00 to $48.00 and gave the stock an outperform rating in a research note on Monday, January 22nd. Oppenheimer increased their price objective on Main Street Capital from $41.00 to $43.00 and gave the stock a market perform rating in a research note on Monday, February 26th. UBS Group increased their price target on Main Street Capital from $43.00 to $45.00 and gave the company a neutral rating in a research report on Friday, March 1st. Finally, B. Riley downgraded Main Street Capital from a buy rating to a neutral rating and set a $47.00 price target for the company. in a research report on Monday, January 8th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $45.50.

Hedge Funds Weigh In On Main Street Capital

Institutional investors and hedge funds have recently bought and sold shares of the company. Citigroup Inc. grew its holdings in Main Street Capital by 945.9% during the third quarter. Citigroup Inc. now owns 638 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 577 shares during the period. ICA Group Wealth Management LLC bought a new position in shares of Main Street Capital in the fourth quarter worth $55,000. Harbour Investments Inc. boosted its holdings in shares of Main Street Capital by 15.6% in the fourth quarter. Harbour Investments Inc. now owns 2,636 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 356 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Main Street Capital by 3,563.7% in the second quarter. Tower Research Capital LLC TRC now owns 3,334 shares of the financial services provider’s stock worth $133,000 after acquiring an additional 3,243 shares during the period. Finally, Sunbelt Securities Inc. bought a new position in shares of Main Street Capital in the first quarter worth $132,000. 20.31% of the stock is owned by institutional investors.

About Main Street Capital

Main Street Capital Corporation is a business development company specializes in equity capital to lower middle market companies. The firm specializing in recapitalizations, management buyouts, refinancing, family estate planning, management buyouts, refinancing, industry consolidation, mature, later stage emerging growth.