Janney Montgomery Scott set a $35.00 target price on Main Street Capital (NYSE:MAIN) in a research note issued to investors on Friday morning. The firm currently has a hold rating on the financial services provider’s stock.
Other analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Main Street Capital from a hold rating to a buy rating and set a $43.00 price target on the stock in a research report on Saturday, October 6th. SunTrust Banks reissued a hold rating and issued a $40.00 price objective on shares of Main Street Capital in a research note on Friday, August 3rd. Finally, National Securities raised their price target on shares of Main Street Capital from $35.00 to $38.00 and gave the company a neutral rating in a research note on Wednesday, August 8th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $39.50.
Shares of NYSE:MAIN opened at $37.17 on Friday. Main Street Capital has a 12-month low of $34.37 and a 12-month high of $41.79. The company has a market cap of $2.25 billion, a price-to-earnings ratio of 15.55 and a beta of 0.83. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.21.
Main Street Capital (NYSE:MAIN) last announced its earnings results on Thursday, November 1st. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.01. Main Street Capital had a net margin of 95.77% and a return on equity of 10.80%. The firm had revenue of $58.26 million for the quarter, compared to analyst estimates of $59.19 million. During the same quarter in the prior year, the business posted $0.60 EPS. The business’s revenue was up 12.5% compared to the same quarter last year. Equities analysts expect that Main Street Capital will post 2.53 earnings per share for the current fiscal year.
The firm also recently declared a monthly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be paid a dividend of $0.195 per share. This represents a $2.34 annualized dividend and a dividend yield of 6.30%. The ex-dividend date is Friday, December 28th. Main Street Capital’s payout ratio is currently 97.91%.
Hedge funds have recently added to or reduced their stakes in the company. Green Square Capital LLC bought a new position in shares of Main Street Capital during the second quarter valued at $203,000. Good Life Advisors LLC bought a new position in shares of Main Street Capital during the third quarter valued at $204,000. Comerica Bank bought a new position in shares of Main Street Capital during the third quarter valued at $221,000. Verity Asset Management Inc. raised its stake in shares of Main Street Capital by 20.8% during the second quarter. Verity Asset Management Inc. now owns 7,429 shares of the financial services provider’s stock valued at $283,000 after acquiring an additional 1,279 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in Main Street Capital during the second quarter worth $327,000. 23.94% of the stock is owned by hedge funds and other institutional investors.
Main Street Capital Company Profile
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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