Main Street Capital (MAIN) Receives Consensus Rating of “Hold” from Analysts
Main Street Capital (NYSE:MAIN) has been assigned an average rating of “Hold” from the ten brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $38.78.
Several equities research analysts recently weighed in on MAIN shares. Zacks Investment Research cut Main Street Capital from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. ValuEngine cut Main Street Capital from a “buy” rating to a “hold” rating in a research note on Monday, February 5th. National Securities upgraded Main Street Capital from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $33.00 to $35.00 in a research note on Monday, February 26th. Finally, B. Riley started coverage on Main Street Capital in a research note on Tuesday, March 27th. They set a “buy” rating and a $40.00 target price for the company.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Jane Street Group LLC purchased a new stake in Main Street Capital in the fourth quarter valued at approximately $350,000. LPL Financial LLC lifted its stake in Main Street Capital by 10.7% in the fourth quarter. LPL Financial LLC now owns 145,327 shares of the financial services provider’s stock valued at $5,774,000 after buying an additional 14,101 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its stake in Main Street Capital by 9.1% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 162,013 shares of the financial services provider’s stock valued at $6,435,000 after buying an additional 13,550 shares during the last quarter. Paloma Partners Management Co purchased a new stake in Main Street Capital in the fourth quarter valued at approximately $315,000. Finally, Goldman Sachs Group Inc. lifted its stake in Main Street Capital by 68.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 51,997 shares of the financial services provider’s stock valued at $2,066,000 after buying an additional 21,139 shares during the last quarter. Institutional investors own 27.59% of the company’s stock.
Main Street Capital (NYSE:MAIN) last posted its earnings results on Thursday, February 22nd. The financial services provider reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.01. The firm had revenue of $55.80 million during the quarter, compared to analysts’ expectations of $53.17 million. Main Street Capital had a return on equity of 10.34% and a net margin of 82.93%. The firm’s revenue was up 19.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.57 earnings per share. sell-side analysts anticipate that Main Street Capital will post 2.44 EPS for the current year.
The company also recently disclosed a dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 20th will be paid a $0.19 dividend. The ex-dividend date is Thursday, April 19th. This is a boost from Main Street Capital’s previous dividend of $0.19. Main Street Capital’s payout ratio is currently 95.40%.
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About Main Street Capital
Main Street Capital Corporation is a business development company specializing in long- term equity and debt investments in small and lower middle market companies. The firm focuses on investments in, subordinated loans, private equity, venture debt, mezzanine investments, mature, mid venture, industry consolidation, later stage, late venture, emerging growth, management buyouts, change of control transactions, ownership transitions, recapitalizations, strategic acquisitions, refinancing, business expansion capital, growth financings, family estate planning, and other growth initiatives primarily for later stage businesses.
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