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.

Analyst Upgrades and Downgrades

MAIN has been the subject of several research analyst reports. Truist Financial boosted their price target on shares of Main Street Capital from $43.00 to $45.00 and gave the company a hold rating in a report on Monday, February 26th. UBS Group boosted their price target on shares of Main Street Capital from $43.00 to $45.00 and gave the company a neutral rating in a report 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. B. Riley lowered shares of Main Street Capital from a buy rating to a neutral rating and set a $47.00 price target for the company. in a report on Monday, January 8th. Finally, Oppenheimer upped their target price on shares of Main Street Capital from $41.00 to $43.00 and gave the stock a market perform rating in a research note on Monday, February 26th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Main Street Capital has an average rating of Hold and a consensus target price of $45.50.

Main Street Capital Price Performance

Shares of NYSE MAIN opened at $46.68 on Tuesday. The firm has a market cap of $3.97 billion, a PE ratio of 8.94 and a beta of 1.29. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.14. Main Street Capital has a 1-year low of $37.70 and a 1-year high of $47.82. The company has a fifty day moving average price of $45.96 and a 200 day moving average price of $43.29.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $1.12 EPS for the quarter, topping 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 company had revenue of $129.31 million during the quarter, compared to the consensus estimate of $125.52 million. Research analysts predict 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 disclosed a dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 20th were paid a dividend of $0.30 per share. This represents a dividend yield of 8.37%. This is an increase from Main Street Capital’s previous dividend of $0.24. The ex-dividend date was Tuesday, March 19th. Main Street Capital’s dividend payout ratio is currently 55.17%.

Hedge Funds Weigh In On Main Street Capital

A number of large investors have recently modified their holdings of MAIN. Squarepoint Ops LLC acquired a new stake in Main Street Capital in the first quarter valued at $202,000. Goldman Sachs Group Inc. acquired a new stake in Main Street Capital in the first quarter valued at $201,000. Comerica Bank lifted its stake in Main Street Capital by 8.2% in the fourth quarter. Comerica Bank now owns 4,471 shares of the financial services provider’s stock valued at $193,000 after acquiring an additional 339 shares during the last quarter. Money Concepts Capital Corp lifted its stake in shares of Main Street Capital by 4,989.5% during the 4th quarter. Money Concepts Capital Corp now owns 4,835 shares of the financial services provider’s stock worth $179,000 after buying an additional 4,740 shares during the last quarter. Finally, BNP Paribas Arbitrage SNC lifted its stake in shares of Main Street Capital by 1,835.3% during the 1st quarter. BNP Paribas Arbitrage SNC now owns 3,561 shares of the financial services provider’s stock worth $141,000 after buying an additional 3,377 shares during the last quarter. 20.31% of the stock is currently owned by institutional investors and hedge funds.

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.