Main Street Capital (NYSE:MAIN) Updates 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 guidance of 1.100-1.120 for the period, compared to the consensus earnings per share estimate of 1.030. The company issued revenue guidance of -.

Main Street Capital Stock Up 0.8 %

Shares of MAIN stock traded up $0.40 during mid-day trading on Friday, reaching $47.62. 317,822 shares of the company’s stock traded hands, compared to its average volume of 356,612. The company has a market cap of $4.05 billion, a P/E ratio of 9.13 and a beta of 1.29. The company’s 50-day moving average price is $46.12 and its 200-day moving average price is $43.43. Main Street Capital has a 12 month low of $37.70 and a 12 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.

Main Street Capital (NYSE:MAIN) last announced its quarterly 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 company had revenue of $129.31 million for the quarter, compared to analysts’ expectations of $125.52 million. Main Street Capital had a net margin of 85.62% and a return on equity of 14.99%. On average, equities analysts expect that Main Street Capital will post 4.07 earnings per share for the current fiscal year.

Main Street Capital Increases Dividend

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

Analyst Ratings Changes

Several equities analysts have issued reports on MAIN shares. B. Riley cut shares of Main Street Capital from a buy rating to a neutral rating and set a $47.00 target price on the stock. in a research note on Monday, January 8th. UBS Group upped their target price on shares of Main Street Capital from $43.00 to $45.00 and gave the company a neutral rating in a research note on Friday, March 1st. Truist Financial increased their price objective 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. Oppenheimer increased their price objective 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. Finally, 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. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $45.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MAIN. Citigroup Inc. grew 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 purchasing an additional 577 shares in the last quarter. ICA Group Wealth Management LLC purchased a new position in Main Street Capital during the fourth quarter worth $55,000. 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 period. Sunbelt Securities Inc. bought a new stake in shares of Main Street Capital during the first quarter worth $132,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Main Street Capital by 3,563.7% during the second quarter. Tower Research Capital LLC TRC now owns 3,334 shares of the financial services provider’s stock worth $133,000 after purchasing an additional 3,243 shares during the last quarter. 20.31% of the stock is 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.