Main Street Capital (NYSE:MAIN) Releases Q1 2024 Earnings Guidance

Main Street Capital (NYSE:MAIN) updated its first quarter 2024 earnings guidance on Friday. The company provided EPS guidance of 1.100-1.120 for the period, compared to the consensus EPS estimate of 1.030. The company issued revenue guidance of -.

Analysts Set New Price Targets

Several research firms have commented on MAIN. Oppenheimer upped their price target on Main Street Capital from $41.00 to $43.00 and gave the company a market perform rating in a report on Monday, February 26th. UBS Group lifted their price target on shares of 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 boosted their price target on shares of Main Street Capital from $46.00 to $48.00 and gave the company an outperform rating in a report on Monday, January 22nd. Truist Financial raised their price objective on shares of Main Street Capital from $43.00 to $45.00 and gave the stock a hold rating in a report on Monday, February 26th. Finally, B. Riley cut shares of Main Street Capital from a buy rating to a neutral rating and set a $47.00 target price on the stock. in a research note on Monday, January 8th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $45.50.

Main Street Capital Stock Performance

Main Street Capital stock opened at $47.62 on Friday. The firm has a market capitalization of $4.05 billion, a P/E ratio of 9.12 and a beta of 1.29. The stock has a fifty day moving average price of $46.18 and a two-hundred day moving average price of $43.51. Main Street Capital has a 52-week low of $37.70 and a 52-week high of $47.82. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.09 and a quick ratio of 0.09.

Main Street Capital (NYSE:MAIN) last posted its earnings results 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 business had revenue of $129.31 million for the quarter, compared to analyst estimates of $125.52 million. As a group, analysts anticipate that Main Street Capital will post 4.07 EPS for the current fiscal year.

Main Street Capital Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 20th were paid a $0.30 dividend. The ex-dividend date was Tuesday, March 19th. This represents a dividend yield of 8.37%. This is a boost from Main Street Capital’s previous dividend of $0.24. Main Street Capital’s payout ratio is 55.17%.

Institutional Investors Weigh In On Main Street Capital

A number of large investors have recently bought and sold shares of MAIN. Mercer Global Advisors Inc. ADV raised its holdings in shares of Main Street Capital by 554.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 54,975 shares of the financial services provider’s stock valued at $2,377,000 after buying an additional 46,572 shares during the last quarter. Baker Avenue Asset Management LP increased its position in Main Street Capital by 6.1% in the 4th quarter. Baker Avenue Asset Management LP now owns 59,716 shares of the financial services provider’s stock valued at $2,582,000 after acquiring an additional 3,443 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Main Street Capital by 9.7% in the fourth quarter. Legal & General Group Plc now owns 645,866 shares of the financial services provider’s stock worth $27,914,000 after acquiring an additional 57,376 shares during the last quarter. Mork Capital Management LLC acquired a new position in shares of Main Street Capital during the fourth quarter worth approximately $990,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Main Street Capital by 2.1% during the fourth 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. 20.31% of the stock is currently owned by institutional investors.

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.