Wall Street brokerages expect Main Street Capital (NYSE:MAIN) to report $56.95 million in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Main Street Capital’s earnings. The lowest sales estimate is $55.44 million and the highest is $57.80 million. Main Street Capital reported sales of $50.27 million in the same quarter last year, which would suggest a positive year over year growth rate of 13.3%. The business is scheduled to report its next earnings results on Thursday, August 2nd.
According to Zacks, analysts expect that Main Street Capital will report full-year sales of $229.15 million for the current year, with estimates ranging from $227.00 million to $230.81 million. For the next year, analysts forecast that the firm will post sales of $245.56 million per share, with estimates ranging from $231.26 million to $254.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Main Street Capital.
Main Street Capital (NYSE:MAIN) last posted its earnings results on Thursday, May 3rd. The financial services provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Main Street Capital had a net margin of 81.24% and a return on equity of 10.48%. The firm had revenue of $55.94 million during the quarter, compared to analyst estimates of $53.54 million. During the same period last year, the firm posted $0.57 earnings per share. Main Street Capital’s revenue for the quarter was up 16.8% compared to the same quarter last year.
MAIN has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Main Street Capital from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a report on Friday, March 30th. ValuEngine lowered shares of Main Street Capital from a “buy” rating to a “hold” rating in a report on Monday, February 5th. National Securities raised shares of Main Street Capital from a “sell” rating to a “neutral” rating and raised their target price for the company from $33.00 to $35.00 in a report on Monday, February 26th. Finally, B. Riley initiated coverage on shares of Main Street Capital in a report on Tuesday, March 27th. They issued a “buy” rating and a $40.00 target price for the company. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Main Street Capital currently has a consensus rating of “Hold” and a consensus price target of $39.50.
Institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its position in Main Street Capital by 59.1% in the third quarter. JPMorgan Chase & Co. now owns 4,648 shares of the financial services provider’s stock worth $184,000 after buying an additional 1,727 shares during the last quarter. Strid Group LLC bought a new stake in shares of Main Street Capital during the fourth quarter worth $204,000. King Wealth Management Group LLC bought a new stake in shares of Main Street Capital during the fourth quarter worth $205,000. GSA Capital Partners LLP bought a new stake in shares of Main Street Capital during the third quarter worth $208,000. Finally, Navellier & Associates Inc bought a new stake in shares of Main Street Capital during the fourth quarter worth $222,000. Institutional investors own 27.89% of the company’s stock.
Shares of Main Street Capital traded down $0.18, reaching $38.32, on Wednesday, MarketBeat.com reports. The company’s stock had a trading volume of 276,414 shares, compared to its average volume of 297,585. Main Street Capital has a 1 year low of $38.32 and a 1 year high of $38.57. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.10 and a current ratio of 0.10. The firm has a market cap of $2.29 billion, a PE ratio of 16.03 and a beta of 0.94.
The business also recently declared a monthly dividend, which will be paid on Friday, September 14th. Investors of record on Tuesday, August 21st will be given a $0.19 dividend. The ex-dividend date of this dividend is Monday, August 20th. This represents a $2.28 dividend on an annualized basis and a yield of 5.95%. Main Street Capital’s dividend payout ratio is presently 95.40%.
About Main Street Capital
Main Street Capital Corporation is a business development company specializing in long- term equity and debt investments in small and lower middle market companies. The firm focuses on investments in, subordinated loans, private equity, venture debt, mezzanine investments, mature, mid venture, industry consolidation, later stage, late venture, emerging growth, management buyouts, change of control transactions, ownership transitions, recapitalizations, strategic acquisitions, refinancing, business expansion capital, growth financings, family estate planning, and other growth initiatives primarily for later stage businesses.
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