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

Main Street Capital (NYSE:MAIN) issued an update on its first quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.04-$1.06 for the period, compared to the consensus estimate of $1.02.

Analyst Upgrades and Downgrades

MAIN has been the subject of a number of recent analyst reports. Oppenheimer upped their price target on shares of Main Street Capital from $41.00 to $43.00 and gave the stock a market perform rating in a report on Monday, February 26th. UBS Group raised their target price on Main Street Capital from $43.00 to $45.00 and gave the company a neutral rating in a report on Friday, March 1st. Truist Financial boosted their price target on Main Street Capital from $43.00 to $45.00 and gave the stock a hold rating in a report on Monday, February 26th. B. Riley lowered Main Street Capital from a buy rating to a neutral rating and set a $47.00 price objective on the stock. in a research note on Monday, January 8th. Finally, Royal Bank of Canada boosted their target price on Main Street Capital from $46.00 to $48.00 and gave the stock an outperform rating in a research note on Monday, January 22nd. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Main Street Capital has a consensus rating of Hold and an average target price of $45.50.

Main Street Capital Price Performance

Shares of MAIN opened at $46.77 on Wednesday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.14. The stock has a market cap of $3.97 billion, a PE ratio of 8.96 and a beta of 1.29. Main Street Capital has a 12-month low of $37.70 and a 12-month high of $47.82. The business has a 50-day simple moving average of $46.00 and a two-hundred day simple moving average of $43.33.

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 (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $125.52 million. Analysts anticipate that Main Street Capital will post 4.07 earnings per share for the current fiscal year.

Main Street Capital Increases Dividend

The firm also recently declared a dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 20th were issued a dividend of $0.30 per share. This represents a dividend yield of 8.37%. The ex-dividend date of this dividend was Tuesday, March 19th. This is a positive change 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

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its position in 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 valued at $96,378,000 after purchasing an additional 1,788,197 shares during the period. Millennium Management LLC bought a new stake in shares of Main Street Capital in the 4th quarter valued at $6,674,000. Two Sigma Investments LP acquired a new stake in shares of Main Street Capital during the third quarter worth $5,518,000. Imprint Wealth LLC bought a new position in Main Street Capital during the second quarter worth $12,549,000. Finally, Atria Wealth Solutions Inc. acquired a new position in Main Street Capital in the first quarter valued at $3,102,000. Institutional investors and hedge funds 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.