FY2024 EPS Estimates for Main Street Capital Cut by B. Riley

Main Street Capital Co. (NYSE:MAIN) – Stock analysts at B. Riley dropped their FY2024 earnings per share (EPS) estimates for Main Street Capital in a research report issued on Monday, November 11th. B. Riley analyst B. Rowe now anticipates that the financial services provider will post earnings per share of $4.12 for the year, down from their prior estimate of $4.15. B. Riley has a “Neutral” rating and a $51.00 price objective on the stock. The consensus estimate for Main Street Capital’s current full-year earnings is $4.12 per share. B. Riley also issued estimates for Main Street Capital’s Q4 2024 earnings at $1.05 EPS.

A number of other research firms have also recently commented on MAIN. Oppenheimer lifted their price objective on Main Street Capital from $43.00 to $44.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $52.00 price target on shares of Main Street Capital in a research report on Wednesday, August 14th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $48.80.

Main Street Capital Trading Down 0.1 %

NYSE:MAIN opened at $52.23 on Thursday. Main Street Capital has a 52-week low of $40.51 and a 52-week high of $52.89. The company has a quick ratio of 0.07, a current ratio of 0.08 and a debt-to-equity ratio of 0.13. The stock has a fifty day simple moving average of $50.72 and a 200-day simple moving average of $50.09. The company has a market capitalization of $4.61 billion, a PE ratio of 9.46 and a beta of 1.29.

Institutional Investors Weigh In On Main Street Capital

Hedge funds have recently bought and sold shares of the business. ProShare Advisors LLC raised its position in shares of Main Street Capital by 16.3% during the first quarter. ProShare Advisors LLC now owns 11,913 shares of the financial services provider’s stock valued at $564,000 after buying an additional 1,666 shares during the last quarter. Entropy Technologies LP bought a new stake in shares of Main Street Capital during the first quarter worth $549,000. TCTC Holdings LLC grew its holdings in Main Street Capital by 1.4% during the 1st quarter. TCTC Holdings LLC now owns 111,641 shares of the financial services provider’s stock worth $5,282,000 after acquiring an additional 1,570 shares during the period. Burgundy Asset Management Ltd. raised its holdings in Main Street Capital by 1.4% in the first quarter. Burgundy Asset Management Ltd. now owns 1,089,159 shares of the financial services provider’s stock worth $51,528,000 after purchasing an additional 15,392 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its position in shares of Main Street Capital by 1.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 74,364 shares of the financial services provider’s stock worth $3,523,000 after purchasing an additional 1,107 shares during the period. 20.31% of the stock is owned by hedge funds and other institutional investors.

Main Street Capital Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, March 7th will be issued a $0.25 dividend. This is a positive change from Main Street Capital’s previous monthly dividend of $0.25. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.00 annualized dividend and a dividend yield of 5.74%. Main Street Capital’s dividend payout ratio is 53.26%.

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.