Zacks Investment Research upgraded shares of Main Street Capital (NYSE:MAIN) from a hold rating to a buy rating in a research report released on Thursday. They currently have $41.00 price objective on the financial services provider’s stock.
According to Zacks, “Main Street Capital Corporation is a specialty investment company providing customized financing solutions to lower middle market companies which operate in diverse industry sectors. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides one stop financing alternatives to its portfolio companies. “
Several other equities analysts have also issued reports on the company. National Securities upgraded Main Street Capital from a sell rating to a neutral rating and boosted their price objective for the company from $33.00 to $35.00 in a research report on Monday, February 26th. ValuEngine lowered Main Street Capital from a buy rating to a hold rating in a research report on Monday, February 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $38.98.
Main Street Capital (NYSE:MAIN) last issued its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.01. Main Street Capital had a return on equity of 10.34% and a net margin of 82.93%. The business had revenue of $55.80 million during the quarter, compared to analyst estimates of $53.17 million. During the same period in the previous year, the firm earned $0.57 EPS. Main Street Capital’s quarterly revenue was up 19.2% compared to the same quarter last year. research analysts anticipate that Main Street Capital will post 2.42 earnings per share for the current fiscal year.
The company also recently announced a monthly dividend, which will be paid on Monday, April 16th. Shareholders of record on Wednesday, March 21st will be paid a $0.19 dividend. This represents a $2.28 annualized dividend and a yield of 6.22%. The ex-dividend date of this dividend is Tuesday, March 20th. Main Street Capital’s payout ratio is 76.25%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Burgundy Asset Management Ltd. lifted its stake in Main Street Capital by 4.4% in the 4th quarter. Burgundy Asset Management Ltd. now owns 1,908,296 shares of the financial services provider’s stock valued at $75,817,000 after acquiring an additional 80,123 shares in the last quarter. M&T Bank Corp lifted its stake in Main Street Capital by 1.6% in the 4th quarter. M&T Bank Corp now owns 478,304 shares of the financial services provider’s stock valued at $19,004,000 after acquiring an additional 7,687 shares in the last quarter. Van ECK Associates Corp lifted its stake in Main Street Capital by 5.8% in the 3rd quarter. Van ECK Associates Corp now owns 403,372 shares of the financial services provider’s stock valued at $16,034,000 after acquiring an additional 21,957 shares in the last quarter. BlackRock Inc. lifted its stake in Main Street Capital by 7.8% in the 4th quarter. BlackRock Inc. now owns 338,702 shares of the financial services provider’s stock valued at $13,457,000 after acquiring an additional 24,620 shares in the last quarter. Finally, Clearbridge LLC lifted its stake in Main Street Capital by 10.4% in the 4th quarter. Clearbridge LLC now owns 260,301 shares of the financial services provider’s stock valued at $10,342,000 after acquiring an additional 24,526 shares in the last quarter. Hedge funds and other institutional investors own 27.57% of the company’s stock.
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Main Street Capital Company Profile
Main Street Capital Corporation (MSCC) is a principal investment firm. MSCC’s principal investment objective is to maximize its portfolio’s total return by generating current income from the Company’s debt investments and capital appreciation from its equity and equity related investments, including warrants, convertible securities and other rights to acquire equity securities in a portfolio company.
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