Main Street Capital (NYSE:MAIN) Releases 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 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 -.

Main Street Capital Price Performance

Shares of MAIN stock opened at $47.62 on Friday. Main Street Capital has a 1-year low of $37.70 and a 1-year high of $47.82. The stock’s 50-day moving average is $46.18 and its 200 day moving average is $43.48. The company has a market cap of $4.05 billion, a P/E ratio of 9.12 and a beta of 1.29. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.09 and a quick ratio of 0.09.

Main Street Capital (NYSE:MAIN) last issued its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.06. The business had revenue of $129.31 million during the quarter, compared to the consensus estimate of $125.52 million. Main Street Capital had a return on equity of 14.99% and a net margin of 85.62%. 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 company also recently announced a dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 20th were issued a dividend of $0.30 per share. This is an increase from Main Street Capital’s previous dividend of $0.24. The ex-dividend date of this dividend was Tuesday, March 19th. This represents a dividend yield of 8.37%. Main Street Capital’s payout ratio is 55.17%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Oppenheimer lifted their target price on Main Street Capital from $41.00 to $43.00 and gave the stock a market perform rating in a report on Monday, February 26th. Royal Bank of Canada lifted their target price on Main Street Capital from $46.00 to $48.00 and gave the stock an outperform rating in a report on Monday, January 22nd. UBS Group lifted 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. B. Riley downgraded Main Street Capital from a buy rating to a neutral rating and set a $47.00 target price for the company. in a report on Monday, January 8th. Finally, Truist Financial lifted their target price on Main Street Capital from $43.00 to $45.00 and gave the stock a hold rating in a report on Monday, February 26th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $45.50.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MAIN. Mutual Advisors LLC increased its position in shares of Main Street Capital by 4.9% in the second quarter. Mutual Advisors LLC now owns 5,900 shares of the financial services provider’s stock valued at $227,000 after buying an additional 273 shares in the last quarter. First Republic Investment Management Inc. boosted its stake in Main Street Capital by 0.9% during the second quarter. First Republic Investment Management Inc. now owns 34,031 shares of the financial services provider’s stock worth $1,311,000 after buying an additional 317 shares during the last quarter. Comerica Bank boosted its stake in Main Street Capital by 8.2% during the fourth quarter. Comerica Bank now owns 4,471 shares of the financial services provider’s stock worth $193,000 after buying an additional 339 shares during the last quarter. Harbour Investments Inc. boosted its stake in Main Street Capital by 15.6% during the fourth quarter. Harbour Investments Inc. now owns 2,636 shares of the financial services provider’s stock worth $97,000 after buying an additional 356 shares during the last quarter. Finally, Baird Financial Group Inc. boosted its stake in Main Street Capital by 1.2% during the fourth quarter. Baird Financial Group Inc. now owns 33,229 shares of the financial services provider’s stock worth $1,436,000 after buying an additional 399 shares during the last quarter. 20.31% of the stock is currently owned by hedge funds and other institutional investors.

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.