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

Main Street Capital (NYSE:MAIN) updated its first quarter earnings guidance on Tuesday. 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 Stock Performance

Shares of NYSE MAIN opened at $46.77 on Wednesday. Main Street Capital has a 1 year low of $37.70 and a 1 year high of $47.82. The firm has a market cap of $3.97 billion, a P/E ratio of 8.96 and a beta of 1.29. The stock has a fifty day moving average price of $46.00 and a two-hundred day moving average price of $43.33. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.09 and a current ratio of 0.09.

Main Street Capital (NYSE:MAIN) last released its earnings results on Thursday, February 22nd. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $129.31 million for the quarter, compared to analyst estimates of $125.52 million. Research analysts forecast that Main Street Capital will post 4.07 EPS for the current fiscal year.

Main Street Capital Increases Dividend

The firm also recently declared 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 was Tuesday, March 19th. This represents a yield of 8.37%. Main Street Capital’s payout ratio is 55.17%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MAIN. Oppenheimer lifted their target price on Main Street Capital from $41.00 to $43.00 and gave the stock a market perform rating in a report on Monday, February 26th. Truist Financial upped 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 note on Monday, February 26th. UBS Group lifted their target price 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. Royal Bank of Canada upped their price target 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, B. Riley cut 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. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Main Street Capital has a consensus rating of Hold and an average price target of $45.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its stake in shares of Main Street Capital by 250.7% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,501,374 shares of the financial services provider’s stock worth $96,378,000 after acquiring an additional 1,788,197 shares in the last quarter. Millennium Management LLC bought a new stake in Main Street Capital during the fourth quarter worth approximately $6,674,000. Two Sigma Investments LP acquired a new position in Main Street Capital during the third quarter valued at approximately $5,518,000. Imprint Wealth LLC bought a new position in shares of Main Street Capital in the second quarter valued at approximately $12,549,000. Finally, Atria Wealth Solutions Inc. acquired a new stake in shares of Main Street Capital in the first quarter worth $3,102,000. 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.