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 Price Performance

Shares of MAIN opened at $47.22 on Friday. The firm has a market cap of $4.01 billion, a PE ratio of 9.05 and a beta of 1.29. 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 firm has a fifty day simple moving average of $46.12 and a two-hundred day simple moving average of $43.43. Main Street Capital has a 1-year low of $37.70 and a 1-year high of $47.82.

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

Main Street Capital Increases Dividend

The business also recently disclosed 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%. This is a positive change from Main Street Capital’s previous dividend of $0.24. The ex-dividend date was Tuesday, March 19th. Main Street Capital’s dividend payout ratio is 55.17%.

Wall Street Analysts Forecast Growth

MAIN has been the subject of several analyst reports. UBS Group upped 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 upped 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 upped 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 downgraded shares of Main Street Capital from a buy rating to a neutral rating and set a $47.00 target price for the company. in a report on Monday, January 8th. Finally, Oppenheimer upped their target price on shares of Main Street Capital from $41.00 to $43.00 and gave the stock a market perform rating in a report on Monday, February 26th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $45.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of Main Street Capital by 2.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,435,508 shares of the financial services provider’s stock valued at $148,518,000 after purchasing an additional 71,698 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Main Street Capital by 4.8% during the 3rd quarter. Morgan Stanley now owns 795,511 shares of the financial services provider’s stock valued at $32,322,000 after purchasing an additional 36,668 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Main Street Capital by 9.7% during the 4th quarter. Legal & General Group Plc now owns 645,866 shares of the financial services provider’s stock valued at $27,914,000 after purchasing an additional 57,376 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of Main Street Capital by 6.6% during the 2nd quarter. Royal Bank of Canada now owns 192,153 shares of the financial services provider’s stock valued at $7,693,000 after purchasing an additional 11,847 shares during the last quarter. Finally, Millennium Management LLC bought a new position in shares of Main Street Capital during the 4th quarter valued at about $6,674,000. 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.