Main Street Capital (NYSE:MAIN) Updates 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.

Analyst Upgrades and Downgrades

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

Main Street Capital Price Performance

MAIN opened at $46.68 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.09 and a current ratio of 0.09. The stock has a market capitalization of $3.97 billion, a P/E ratio of 8.94 and a beta of 1.29. The company’s 50-day simple moving average is $45.96 and its two-hundred day simple moving average is $43.29. Main Street Capital has a 52-week low of $37.70 and a 52-week high of $47.82.

Main Street Capital (NYSE:MAIN) last issued 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 net margin of 85.62% and a return on equity of 14.99%. The firm had revenue of $129.31 million for the quarter, compared to analysts’ expectations of $125.52 million. As a group, analysts predict that Main Street Capital will post 4.07 EPS for the current year.

Main Street Capital Increases Dividend

The firm 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%. The ex-dividend date was Tuesday, March 19th. This is a boost from Main Street Capital’s previous dividend of $0.24. Main Street Capital’s dividend payout ratio is 55.17%.

Hedge Funds Weigh In On Main Street Capital

Institutional investors have recently made changes to their positions in the business. Citigroup Inc. lifted its stake in shares of Main Street Capital by 945.9% in the 3rd quarter. Citigroup Inc. now owns 638 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 577 shares during the period. ICA Group Wealth Management LLC purchased a new stake in Main Street Capital in the 4th quarter worth approximately $55,000. Harbour Investments Inc. increased its holdings in Main Street Capital by 15.6% in the 4th quarter. Harbour Investments Inc. now owns 2,636 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 356 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Main Street Capital by 3,563.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,334 shares of the financial services provider’s stock worth $133,000 after acquiring an additional 3,243 shares in the last quarter. Finally, Sunbelt Securities Inc. purchased a new stake in Main Street Capital in the 1st quarter worth approximately $132,000. 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.