Main Street Capital (NYSE:MAIN – Get Free Report) issued its quarterly earnings results on Thursday. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.03), Zacks reports. The company had revenue of $142.53 million for the quarter, compared to analyst estimates of $145.67 million. Main Street Capital had a return on equity of 11.56% and a net margin of 76.98%.
Main Street Capital Trading Up 0.2%
NYSE MAIN traded up $0.11 during trading on Friday, reaching $56.93. 498,991 shares of the stock traded hands, compared to its average volume of 477,730. Main Street Capital has a fifty-two week low of $48.95 and a fifty-two week high of $65.23. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.11. The firm has a market cap of $5.32 billion, a price-to-earnings ratio of 14.69 and a beta of 0.73. The stock’s 50-day moving average price is $55.53 and its 200 day moving average price is $55.41.
Main Street Capital Dividend Announcement
The business also recently declared a monthly dividend, which will be paid on Monday, March 15th. Stockholders of record on Monday, March 8th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Monday, March 8th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 5.7%. Main Street Capital’s dividend payout ratio is 64.11%.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on MAIN shares. Citigroup reissued a “market outperform” rating on shares of Main Street Capital in a research note on Monday, August 10th. Wall Street Zen downgraded Main Street Capital from a “hold” rating to a “sell” rating in a report on Sunday, October 11th. Truist Financial increased their price objective on Main Street Capital from $53.00 to $57.00 and gave the company a “hold” rating in a research report on Monday, August 10th. Weiss Ratings upgraded Main Street Capital from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, September 3rd. Finally, Wells Fargo & Company raised Main Street Capital from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $55.00 to $60.00 in a research note on Tuesday, September 29th. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $61.00.
Check Out Our Latest Research Report on Main Street Capital
Key Main Street Capital News
Here are the key news stories impacting Main Street Capital this week:
- Positive Sentiment: Main Street raised its monthly dividend to $0.11 per share, a shareholder-friendly move that may support the stock’s appeal to income investors. Main Street Capital declares $0.11 dividend
- Positive Sentiment: One report said GAAP profit was $1.25 per share, 11.9% above analysts’ expectations, providing a brighter counterpoint to the shortfall in recurring investment income. Main Street Capital reports Q3 sales below estimates
- Neutral Sentiment: Management’s results were described as within preliminary estimates, which may temper the impact of the quarterly misses. The company’s earnings-call transcript is available, but the supplied coverage does not detail further guidance or commentary. Main Street Capital Q3 earnings miss but fall within preliminary estimates
- Negative Sentiment: Net investment income was $0.89 per share, below analyst estimates, and revenue of $142.5 million fell short of the $145.7 million consensus. Revenue grew only 1.9% year over year, while net investment income was down from $0.97 per share a year earlier. These results could weigh on expectations for the company’s ongoing earnings power. Main Street Capital Q3 earnings and revenues miss estimates
Insiders Place Their Bets
In other news, CAO Ryan Mchugh purchased 2,550 shares of Main Street Capital stock in a transaction dated Thursday, August 13th. The shares were bought at an average cost of $59.05 per share, with a total value of $150,577.50. Following the completion of the transaction, the chief accounting officer directly owned 22,647 shares in the company, valued at $1,337,305.35. This trade represents a 12.69% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.83% of the company’s stock.
Main Street Capital Company Profile
Main Street Capital Corporation is a business development company that provides customized debt and equity financing to privately held businesses. The company primarily invests in lower middle-market companies and also makes private loan investments in larger middle-market businesses.
Its investment activities include first-lien, second-lien and subordinated debt, as well as equity investments and other securities. Main Street seeks to provide flexible, long-term capital to support acquisitions, recapitalizations, growth initiatives and other corporate financing needs.
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