Main Street Capital (NYSE:MAIN) Issues Q1 Earnings Guidance

Main Street Capital (NYSE:MAIN) updated its first quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $1.04-$1.06 for the period, compared to the consensus earnings per share estimate of $1.02.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MAIN. UBS Group increased their price objective on shares of Main Street Capital from $43.00 to $45.00 and gave the stock a neutral rating in a research report on Friday, March 1st. Truist Financial boosted their target price on shares of Main Street Capital from $43.00 to $45.00 and gave the company a hold rating in a research report on Monday, February 26th. Oppenheimer lifted their price target on shares of Main Street Capital from $41.00 to $43.00 and gave the company a market perform rating in a report 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 price target for the company. in a research note on Monday, January 8th. Finally, Royal Bank of Canada raised their price target on shares of Main Street Capital from $46.00 to $48.00 and gave the stock an outperform rating in a report on Monday, January 22nd. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $45.50.

Main Street Capital Price Performance

Shares of NYSE:MAIN opened at $46.68 on Tuesday. Main Street Capital has a 1-year low of $37.70 and a 1-year high of $47.82. 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 stock has a market cap of $3.97 billion, a PE ratio of 8.94 and a beta of 1.29. The stock’s fifty day simple moving average is $45.96 and its two-hundred day simple moving average is $43.29.

Main Street Capital (NYSE:MAIN) last posted 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 for the quarter, compared to analysts’ expectations of $125.52 million. As a group, analysts forecast that Main Street Capital will post 4.07 EPS for the current fiscal year.

Main Street Capital Increases Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 20th were given a $0.30 dividend. This is a positive change from Main Street Capital’s previous dividend of $0.24. The ex-dividend date of this dividend was Tuesday, March 19th. This represents a yield of 8.37%. Main Street Capital’s payout ratio is currently 55.17%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MAIN. PNC Financial Services Group Inc. increased its stake in shares of Main Street Capital by 11.9% in the first quarter. PNC Financial Services Group Inc. now owns 8,504 shares of the financial services provider’s stock worth $363,000 after purchasing an additional 904 shares in the last quarter. Merit Financial Group LLC bought a new stake in Main Street Capital during the 1st quarter valued at $274,000. SS&H Financial Advisors Inc. bought a new stake in Main Street Capital during the 1st quarter valued at $1,079,000. Northern Trust Corp raised its holdings in Main Street Capital by 40.1% during the 1st quarter. Northern Trust Corp now owns 47,333 shares of the financial services provider’s stock valued at $2,018,000 after acquiring an additional 13,542 shares during the period. Finally, Invesco Ltd. raised its holdings in Main Street Capital by 6.9% during the 1st quarter. Invesco Ltd. now owns 43,655 shares of the financial services provider’s stock valued at $1,861,000 after acquiring an additional 2,814 shares during the period. Institutional investors own 20.31% of the company’s stock.

Main Street Capital Company Profile

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.