Main Street Capital (NYSE:MAIN) – Analysts at SunTrust Banks raised their Q2 2018 earnings estimates for shares of Main Street Capital in a research report issued to clients and investors on Monday, May 7th, Zacks Investment Research reports. SunTrust Banks analyst D. Mewhirter now forecasts that the financial services provider will post earnings of $0.62 per share for the quarter, up from their previous estimate of $0.61. SunTrust Banks also issued estimates for Main Street Capital’s Q4 2018 earnings at $0.62 EPS, FY2018 earnings at $2.48 EPS, Q1 2019 earnings at $0.62 EPS, Q4 2019 earnings at $0.63 EPS and FY2019 earnings at $2.50 EPS.
A number of other research analysts have also recently issued reports on the company. National Securities upgraded Main Street Capital from a “sell” rating to a “neutral” rating and lifted their target price for the company from $33.00 to $35.00 in a research report on Monday, February 26th. B. Riley assumed coverage on Main Street Capital in a research note on Tuesday, March 27th. They issued a “buy” rating and a $40.00 price objective on the stock. Zacks Investment Research lowered Main Street Capital from a “buy” rating to a “hold” rating in a research note on Saturday, March 24th. Finally, ValuEngine downgraded Main Street Capital from a “buy” rating to a “hold” rating in a report on Wednesday, April 11th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Main Street Capital has an average rating of “Hold” and a consensus price target of $39.50.
Main Street Capital (NYSE:MAIN) last issued its quarterly earnings results on Thursday, May 3rd. The financial services provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. Main Street Capital had a net margin of 81.24% and a return on equity of 10.48%. The company had revenue of $55.94 million during the quarter, compared to analysts’ expectations of $53.54 million. During the same period last year, the business earned $0.57 EPS. The business’s quarterly revenue was up 16.8% on a year-over-year basis.
The company also recently disclosed a monthly dividend, which will be paid on Friday, September 14th. Stockholders of record on Tuesday, August 21st will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, August 20th. This represents a $2.28 annualized dividend and a dividend yield of 5.93%. Main Street Capital’s dividend payout ratio (DPR) is presently 95.40%.
Several institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in Main Street Capital by 59.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,648 shares of the financial services provider’s stock worth $184,000 after acquiring an additional 1,727 shares during the last quarter. California Public Employees Retirement System lifted its stake in shares of Main Street Capital by 14.1% in the 3rd quarter. California Public Employees Retirement System now owns 122,673 shares of the financial services provider’s stock valued at $4,876,000 after purchasing an additional 15,173 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Main Street Capital in the 3rd quarter valued at approximately $208,000. Creative Planning raised its stake in Main Street Capital by 20.9% during the fourth quarter. Creative Planning now owns 20,580 shares of the financial services provider’s stock valued at $818,000 after buying an additional 3,564 shares during the last quarter. Finally, Capital Investment Advisors LLC raised its stake in Main Street Capital by 18.8% during the fourth quarter. Capital Investment Advisors LLC now owns 37,618 shares of the financial services provider’s stock valued at $1,495,000 after buying an additional 5,943 shares during the last quarter. Hedge funds and other institutional investors own 27.89% of the company’s stock.
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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