B. Riley Reduces Earnings Estimates for Main Street Capital

Main Street Capital Co. (NYSE:MAIN) – Equities researchers at B. Riley dropped their FY2024 earnings per share (EPS) estimates for shares of Main Street Capital in a report released on Monday, November 11th. B. Riley analyst B. Rowe now expects that the financial services provider will post earnings per share of $4.12 for the year, down from their prior forecast of $4.15. B. Riley has a “Neutral” rating and a $51.00 price target on the stock. The consensus estimate for Main Street Capital’s current full-year earnings is $4.11 per share. B. Riley also issued estimates for Main Street Capital’s Q4 2024 earnings at $1.05 EPS.

Several other equities analysts also recently weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $52.00 price target on shares of Main Street Capital in a report on Wednesday, August 14th. Oppenheimer upped their price objective on shares of Main Street Capital from $43.00 to $44.00 and gave the company a “market perform” rating in a report on Tuesday, August 13th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $48.80.

Main Street Capital Price Performance

Shares of MAIN stock opened at $52.16 on Thursday. Main Street Capital has a fifty-two week low of $40.51 and a fifty-two week high of $52.89. The firm has a market capitalization of $4.60 billion, a PE ratio of 9.45 and a beta of 1.29. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.07 and a current ratio of 0.08. The stock’s 50-day simple moving average is $50.83 and its 200-day simple moving average is $50.12.

Institutional Investors Weigh In On Main Street Capital

Hedge funds have recently bought and sold shares of the stock. Barclays PLC increased its holdings in shares of Main Street Capital by 75.6% during the 3rd quarter. Barclays PLC now owns 72,265 shares of the financial services provider’s stock valued at $3,624,000 after purchasing an additional 31,110 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in Main Street Capital by 149.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 2,508 shares of the financial services provider’s stock valued at $126,000 after buying an additional 1,501 shares in the last quarter. MML Investors Services LLC raised its position in shares of Main Street Capital by 1.9% in the third quarter. MML Investors Services LLC now owns 16,743 shares of the financial services provider’s stock worth $840,000 after acquiring an additional 306 shares during the period. Stifel Financial Corp raised its position in shares of Main Street Capital by 6.2% in the third quarter. Stifel Financial Corp now owns 10,871 shares of the financial services provider’s stock worth $545,000 after acquiring an additional 636 shares during the period. Finally, IHT Wealth Management LLC boosted its stake in shares of Main Street Capital by 0.3% during the 3rd quarter. IHT Wealth Management LLC now owns 63,628 shares of the financial services provider’s stock worth $3,190,000 after acquiring an additional 218 shares in the last quarter. Hedge funds and other institutional investors own 20.31% of the company’s stock.

Main Street Capital Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, March 7th will be issued a $0.25 dividend. The ex-dividend date is Friday, March 7th. This is an increase from Main Street Capital’s previous monthly dividend of $0.25. This represents a $3.00 dividend on an annualized basis and a yield of 5.75%. Main Street Capital’s payout ratio is presently 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.