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

Main Street Capital (NYSE:MAIN) issued an update on its first quarter 2024 earnings guidance on Friday morning. 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

A number of equities analysts recently commented on the company. Oppenheimer lifted their price target on 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. Truist Financial lifted their price target on Main Street Capital from $43.00 to $45.00 and gave the company a hold rating in a report on Monday, February 26th. Royal Bank of Canada lifted their price target on Main Street Capital from $46.00 to $48.00 and gave the company an outperform rating in a report on Monday, January 22nd. UBS Group lifted their price target on Main Street Capital from $43.00 to $45.00 and gave the company a neutral rating in a report on Friday, March 1st. Finally, B. Riley cut Main Street Capital from a buy rating to a neutral rating and set a $47.00 price target on the stock. in a report on Monday, January 8th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Main Street Capital presently has an average rating of Hold and an average price target of $45.50.

Main Street Capital Trading Up 0.8 %

NYSE MAIN traded up $0.40 on Friday, hitting $47.62. 317,822 shares of the stock were exchanged, compared to its average volume of 356,612. 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. The company has a market capitalization of $4.05 billion, a price-to-earnings ratio of 9.13 and a beta of 1.29. The company’s 50-day moving average price is $46.12 and its two-hundred day moving average price is $43.43.

Main Street Capital (NYSE:MAIN) last issued its earnings results 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. The company had revenue of $129.31 million during the quarter, compared to analyst estimates of $125.52 million. Main Street Capital had a net margin of 85.62% and a return on equity of 14.99%. Research analysts predict that Main Street Capital will post 4.07 EPS for the current year.

Main Street Capital Increases Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 20th were paid a $0.30 dividend. This represents a dividend yield of 8.37%. The ex-dividend date 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 presently 55.17%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its position in Main Street Capital by 2.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,435,508 shares of the financial services provider’s stock worth $148,518,000 after acquiring an additional 71,698 shares during the last quarter. Morgan Stanley lifted its position in Main Street Capital by 4.8% during the 3rd quarter. Morgan Stanley now owns 795,511 shares of the financial services provider’s stock worth $32,322,000 after acquiring an additional 36,668 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Main Street Capital by 9.7% during the 4th quarter. Legal & General Group Plc now owns 645,866 shares of the financial services provider’s stock worth $27,914,000 after purchasing an additional 57,376 shares during the period. Royal Bank of Canada increased its holdings in shares of Main Street Capital by 6.6% during the 2nd quarter. Royal Bank of Canada now owns 192,153 shares of the financial services provider’s stock worth $7,693,000 after purchasing an additional 11,847 shares during the period. Finally, Millennium Management LLC bought a new position in shares of Main Street Capital during the 4th quarter worth about $6,674,000. Institutional investors and hedge funds own 20.31% of the company’s stock.

Main Street Capital Company Profile

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.