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 EPS guidance of $1.04-$1.06 for the period, compared to the consensus EPS estimate of $1.02.

Main Street Capital Trading Up 0.4 %

Shares of MAIN stock opened at $46.96 on Thursday. The stock has a market capitalization of $3.99 billion, a PE ratio of 9.00 and a beta of 1.29. Main Street Capital has a 1-year low of $37.70 and a 1-year high of $47.82. The business has a 50-day moving average of $46.07 and a 200 day moving average of $43.40. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.09 and a quick ratio of 0.09.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $1.12 earnings per share for the quarter, topping 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 business had revenue of $129.31 million during the quarter, compared to analysts’ expectations of $125.52 million. As a group, sell-side analysts anticipate that Main Street Capital will post 4.07 earnings per share for the current year.

Main Street Capital Increases Dividend

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

Analyst Ratings Changes

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

Institutional Trading of Main Street Capital

Several large investors have recently modified their holdings of the company. Citigroup Inc. lifted its position 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 in the last quarter. ICA Group Wealth Management LLC purchased a new position in shares of Main Street Capital in the fourth quarter valued at about $55,000. Harbour Investments Inc. lifted its position 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 valued at $97,000 after acquiring an additional 356 shares in the last quarter. Tower Research Capital LLC TRC lifted its position 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 valued at $133,000 after acquiring an additional 3,243 shares in the last quarter. Finally, Sunbelt Securities Inc. purchased a new position in shares of Main Street Capital in the first quarter valued at about $132,000. 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.