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

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

Analyst Ratings Changes

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

Main Street Capital Trading Up 0.8 %

Shares of NYSE:MAIN traded up $0.40 during trading on Friday, reaching $47.62. 317,816 shares of the stock were exchanged, compared to its average volume of 356,612. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.09 and a current ratio of 0.09. Main Street Capital has a 12-month low of $37.70 and a 12-month high of $47.82. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of 9.13 and a beta of 1.29. The firm’s 50-day moving average price is $46.12 and its 200 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, topping analysts’ consensus estimates of $1.06 by $0.06. The business had revenue of $129.31 million during the quarter, compared to analysts’ expectations of $125.52 million. Main Street Capital had a return on equity of 14.99% and a net margin of 85.62%. On average, sell-side 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 announced a dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 20th were given a $0.30 dividend. This represents a dividend yield of 8.37%. This is a positive change from Main Street Capital’s previous dividend of $0.24. The ex-dividend date of this dividend was Tuesday, March 19th. Main Street Capital’s dividend payout ratio is presently 55.17%.

Hedge Funds Weigh In On Main Street Capital

A number of institutional investors have recently made changes to their positions in MAIN. Citigroup Inc. lifted its holdings in shares of Main Street Capital by 945.9% in the third quarter. Citigroup Inc. now owns 638 shares of the financial services provider’s stock valued at $26,000 after buying an additional 577 shares during the period. ICA Group Wealth Management LLC acquired a new position in shares of Main Street Capital during the 4th quarter valued at about $55,000. Harbour Investments Inc. lifted its position in shares of Main Street Capital by 15.6% in the 4th quarter. Harbour Investments Inc. now owns 2,636 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 356 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Main Street Capital by 3,563.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,334 shares of the financial services provider’s stock worth $133,000 after buying an additional 3,243 shares during the period. Finally, Sunbelt Securities Inc. acquired a new stake in Main Street Capital during the 1st quarter valued at $132,000. 20.31% of the stock is 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.