Zacks Investment Research downgraded shares of Main Street Capital Corporation (NYSE:MAIN) from a buy rating to a hold rating in a report published on Thursday morning.
According to Zacks, “Main Street Capital Corporation is a specialty investment company providing customized financing solutions to lower middle market companies which operate in diverse industry sectors. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides one stop financing alternatives to its portfolio companies. “
A number of other research analysts have also commented on the stock. Raymond James Financial, Inc. upgraded shares of Main Street Capital Corporation from an underperform rating to a market perform rating in a research note on Tuesday, November 7th. National Securities reissued a sell rating and issued a $33.00 price objective on shares of Main Street Capital Corporation in a report on Monday, November 6th. BidaskClub raised shares of Main Street Capital Corporation from a sell rating to a hold rating in a report on Tuesday, October 17th. Finally, ValuEngine raised shares of Main Street Capital Corporation from a hold rating to a buy rating in a report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $39.15.
Shares of Main Street Capital Corporation (MAIN) traded down $0.39 during mid-day trading on Thursday, reaching $40.71. 239,000 shares of the company’s stock traded hands, compared to its average volume of 237,299. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.20. Main Street Capital Corporation has a 12-month low of $35.25 and a 12-month high of $41.79. The firm has a market cap of $2,300.00, a price-to-earnings ratio of 17.62 and a beta of 1.05.
Main Street Capital Corporation (NYSE:MAIN) last issued its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. The firm had revenue of $51.79 million for the quarter, compared to analyst estimates of $50.89 million. Main Street Capital Corporation had a net margin of 79.87% and a return on equity of 10.14%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.58 EPS. equities analysts expect that Main Street Capital Corporation will post 2.33 earnings per share for the current fiscal year.
The company also recently disclosed a monthly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 19th will be given a dividend of $0.19 per share. This represents a $2.28 annualized dividend and a dividend yield of 5.60%. The ex-dividend date is Thursday, January 18th. Main Street Capital Corporation’s dividend payout ratio (DPR) is presently 80.57%.
Institutional investors and hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC bought a new stake in shares of Main Street Capital Corporation in the 2nd quarter worth approximately $119,000. V Wealth Management LLC purchased a new position in shares of Main Street Capital Corporation in the second quarter worth $139,000. US Bancorp DE increased its stake in shares of Main Street Capital Corporation by 15.6% in the second quarter. US Bancorp DE now owns 3,707 shares of the financial services provider’s stock worth $143,000 after buying an additional 500 shares during the period. JPMorgan Chase & Co. increased its position in Main Street Capital Corporation by 59.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,648 shares of the financial services provider’s stock valued at $184,000 after purchasing an additional 1,727 shares during the period. Finally, Good Life Advisors LLC purchased a new position in Main Street Capital Corporation during the 3rd quarter valued at $203,000. Hedge funds and other institutional investors own 26.27% of the company’s stock.
About Main Street Capital Corporation
Main Street Capital Corporation (MSCC) is a principal investment firm. MSCC’s principal investment objective is to maximize its portfolio’s total return by generating current income from the Company’s debt investments and capital appreciation from its equity and equity related investments, including warrants, convertible securities and other rights to acquire equity securities in a portfolio company.
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