B. Riley Expects Lower Earnings for Main Street Capital

Main Street Capital Co. (NYSE:MAIN - Free Report) - Equities researchers at B. Riley reduced their FY2024 earnings estimates for Main Street Capital in a research report issued on Monday, November 11th. B. Riley analyst B. Rowe now expects that the financial services provider will earn $4.12 per share for the year, down from their previous estimate 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 $4.12 per share. B. Riley also issued estimates for Main Street Capital's Q4 2024 earnings at $1.05 EPS.

Several other equities analysts have also commented on MAIN. Oppenheimer upped their price target on shares of 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 reiterated an "outperform" rating and set a $52.00 price objective on shares of Main Street Capital in a research note on Wednesday, August 14th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Main Street Capital has a consensus rating of "Hold" and an average target price of $48.80.

Main Street Capital Trading Down 0.7 %

MAIN stock traded down $0.35 on Thursday, hitting $51.88. 580,144 shares of the company were exchanged, compared to its average volume of 364,999. Main Street Capital has a twelve month low of $40.51 and a twelve month high of $52.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.08 and a quick ratio of 0.07. The business's fifty day moving average is $50.77 and its two-hundred day moving average is $50.11. The stock has a market capitalization of $4.57 billion, a price-to-earnings ratio of 9.51 and a beta of 1.29.

Main Street Capital Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, March 7th will be paid 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 annualized dividend and a dividend yield of 5.78%. Main Street Capital's dividend payout ratio is 53.26%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MAIN. Van ECK Associates Corp boosted its stake in shares of Main Street Capital by 14.0% in the second quarter. Van ECK Associates Corp now owns 1,150,095 shares of the financial services provider's stock valued at $58,069,000 after purchasing an additional 141,312 shares during the period. Joel Isaacson & Co. LLC boosted its stake in Main Street Capital by 3,098.3% during the 3rd quarter. Joel Isaacson & Co. LLC now owns 127,996 shares of the financial services provider's stock valued at $6,418,000 after acquiring an additional 123,994 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Main Street Capital by 7,077.4% during the 3rd quarter. International Assets Investment Management LLC now owns 112,182 shares of the financial services provider's stock valued at $5,625,000 after acquiring an additional 110,619 shares during the last quarter. Adell Harriman & Carpenter Inc. boosted its stake in Main Street Capital by 26.9% during the 2nd quarter. Adell Harriman & Carpenter Inc. now owns 405,210 shares of the financial services provider's stock valued at $20,459,000 after acquiring an additional 85,995 shares during the last quarter. Finally, Cetera Investment Advisers bought a new position in Main Street Capital during the 1st quarter valued at $2,669,000. 20.31% of the stock is currently owned by hedge funds and other institutional investors.

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.