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 Trading Up 0.8 %

NYSE:MAIN opened at $47.62 on Friday. Main Street Capital has a twelve month low of $37.70 and a twelve month high of $47.82. 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 business has a 50 day moving average price of $46.18 and a two-hundred day moving average price of $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.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.06. The firm had revenue of $129.31 million for 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%. As a group, analysts expect that Main Street Capital will post 4.07 EPS for the current fiscal year.

Main Street Capital Increases Dividend

The firm also recently declared a dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 20th were given a dividend of $0.30 per share. This represents a yield of 8.37%. The ex-dividend date was Tuesday, March 19th. This is an increase from Main Street Capital’s previous dividend of $0.24. Main Street Capital’s payout ratio is 55.17%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. 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 research note on Monday, January 8th. Oppenheimer raised 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. UBS Group raised their target price on shares of Main Street Capital from $43.00 to $45.00 and gave the stock a neutral rating in a research note on Friday, March 1st. Royal Bank of Canada raised their target price on shares of Main Street Capital from $46.00 to $48.00 and gave the stock an outperform rating in a research note on Monday, January 22nd. Finally, Truist Financial raised their target price on shares of Main Street Capital from $43.00 to $45.00 and gave the stock a hold rating in a research note on Monday, February 26th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $45.50.

Institutional Trading of Main Street Capital

Several hedge funds and other institutional investors have recently bought and sold shares of MAIN. Price T Rowe Associates Inc. MD increased its holdings in Main Street Capital by 250.7% in 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 buying an additional 1,788,197 shares during the period. Millennium Management LLC bought a new position in Main Street Capital in the 4th quarter valued at about $6,674,000. Two Sigma Investments LP bought a new position in Main Street Capital in the 3rd quarter valued at about $5,518,000. Imprint Wealth LLC bought a new position in Main Street Capital in the 2nd quarter valued at about $12,549,000. Finally, Atria Wealth Solutions Inc. bought a new position in Main Street Capital in the 1st quarter valued at about $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.