Main Street Capital Corporation (NYSE:MAIN) Receives Consensus Rating of “Hold” from Brokerages

Shares of Main Street Capital Corporation (NYSE:MAIN) have received a consensus recommendation of “Hold” from the eleven research firms that are currently covering the stock, Marketbeat.com reports. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $61.7143.

Several brokerages have recently issued reports on MAIN. Loop Capital raised Main Street Capital to a “neutral” rating and set a $65.00 target price on the stock in a report on Thursday, January 15th. Royal Bank Of Canada dropped their price target on Main Street Capital from $67.00 to $66.00 and set an “outperform” rating for the company in a research note on Tuesday, December 9th. Noble Financial restated a “neutral” rating on shares of Main Street Capital in a report on Thursday, January 15th. Citigroup reaffirmed an “outperform” rating on shares of Main Street Capital in a report on Tuesday, January 27th. Finally, Wall Street Zen upgraded Main Street Capital from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th.

Main Street Capital Trading Up 0.1%

Shares of MAIN stock opened at $52.69 on Friday. Main Street Capital has a 1 year low of $47.00 and a 1 year high of $67.77. The firm has a fifty day moving average price of $57.86 and a 200-day moving average price of $59.42. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.06 and a quick ratio of 0.06. The company has a market cap of $4.75 billion, a price-to-earnings ratio of 9.55 and a beta of 0.80.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings results on Thursday, February 26th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.03. Main Street Capital had a return on equity of 12.44% and a net margin of 87.11%.The business had revenue of $156.17 million during the quarter, compared to analyst estimates of $141.50 million. As a group, equities analysts predict that Main Street Capital will post 4.11 earnings per share for the current year.

Main Street Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 8th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, April 8th. This represents a $1.20 dividend on an annualized basis and a yield of 2.3%. Main Street Capital’s dividend payout ratio is presently 56.52%.

Hedge Funds Weigh In On Main Street Capital

Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its position in Main Street Capital by 49.0% during the second quarter. JPMorgan Chase & Co. now owns 200,717 shares of the financial services provider’s stock valued at $11,862,000 after purchasing an additional 65,979 shares during the period. B. Riley Wealth Advisors Inc. bought a new stake in shares of Main Street Capital in the 2nd quarter valued at approximately $1,685,000. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Main Street Capital by 5,556.3% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 36,144 shares of the financial services provider’s stock worth $2,298,000 after purchasing an additional 35,505 shares during the period. CWM LLC increased its position in shares of Main Street Capital by 100.3% during the 3rd quarter. CWM LLC now owns 65,246 shares of the financial services provider’s stock valued at $4,149,000 after purchasing an additional 32,667 shares during the last quarter. Finally, Muzinich & Co. Inc. increased its position in shares of Main Street Capital by 15.9% during the 3rd quarter. Muzinich & Co. Inc. now owns 367,140 shares of the financial services provider’s stock valued at $23,346,000 after purchasing an additional 50,332 shares during the last quarter. 20.31% of the stock is owned by hedge funds and other institutional investors.

About Main Street Capital

Main Street Capital Corporation (NYSE: MAIN) is a publicly traded business development company that provides flexible debt and equity capital to lower middle market companies in the United States. Headquartered in Houston, Texas, Main Street Capital was formed in 2007 and operates under the Investment Company Act of 1940. The firm’s management services are provided by Main Street Capital Management, L.P., which focuses on identifying growing private companies with enterprise values typically between $10 million and $150 million.

Main Street Capital’s primary offerings include first-lien senior secured loans, second-lien loans, subordinated debt, and equity co-investments or minority equity positions.