Main Street Capital (NYSE:MAIN) Updates Q1 2024 Earnings Guidance

Main Street Capital (NYSE:MAIN) updated its first quarter 2024 earnings guidance on Friday. The company provided earnings per share guidance of 1.100-1.120 for the period, compared to the consensus earnings per share estimate of 1.030. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. UBS Group boosted their price objective on Main Street Capital from $43.00 to $45.00 and gave the stock a neutral rating in a research note on Friday, March 1st. Royal Bank of Canada boosted 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. Truist Financial boosted 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. B. Riley lowered Main Street Capital from a buy rating to a neutral rating and set a $47.00 target price for the company. in a research report on Monday, January 8th. Finally, Oppenheimer boosted their target price on Main Street Capital from $41.00 to $43.00 and gave the company a market perform rating in a research report on Monday, February 26th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $45.50.

Main Street Capital Trading Up 0.8 %

Main Street Capital stock traded up $0.40 during trading on Friday, hitting $47.62. The company had a trading volume of 317,816 shares, compared to its average volume of 356,612. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.14. Main Street Capital has a 1-year low of $37.70 and a 1-year high of $47.82. The stock has a market cap of $4.05 billion, a price-to-earnings ratio of 9.13 and a beta of 1.29. The company’s 50 day simple moving average is $46.12 and its 200-day simple moving average is $43.43.

Main Street Capital (NYSE:MAIN) last issued its quarterly 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 net margin of 85.62% and a return on equity of 14.99%. The company had revenue of $129.31 million during the quarter, compared to analysts’ expectations of $125.52 million. As a group, analysts expect that Main Street Capital will post 4.07 EPS for the current fiscal year.

Main Street Capital Increases Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 20th were issued a dividend of $0.30 per share. This is a positive change from Main Street Capital’s previous dividend of $0.24. The ex-dividend date was Tuesday, March 19th. This represents a dividend yield of 8.37%. Main Street Capital’s dividend payout ratio (DPR) is presently 55.17%.

Hedge Funds Weigh In On Main Street Capital

Several hedge funds have recently made changes to their positions in the company. Citigroup Inc. grew its holdings in shares of Main Street Capital by 945.9% during the third quarter. Citigroup Inc. now owns 638 shares of the financial services provider’s stock worth $26,000 after buying an additional 577 shares during the last quarter. ICA Group Wealth Management LLC purchased a new position in shares of Main Street Capital during the fourth quarter worth about $55,000. Harbour Investments Inc. grew its holdings in shares of Main Street Capital by 15.6% during the fourth quarter. Harbour Investments Inc. now owns 2,636 shares of the financial services provider’s stock worth $97,000 after buying an additional 356 shares during the last quarter. Sunbelt Securities Inc. purchased a new position in shares of Main Street Capital during the first quarter worth about $132,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Main Street Capital by 3,563.7% during the second quarter. Tower Research Capital LLC TRC now owns 3,334 shares of the financial services provider’s stock worth $133,000 after buying an additional 3,243 shares during the last quarter. Hedge funds and other institutional investors own 20.31% of the company’s stock.

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.