Main Street Capital (NYSE:MAIN) PT Raised to $52.00

Main Street Capital (NYSE:MAIN) had its target price lifted by Royal Bank of Canada from $48.00 to $52.00 in a research note released on Tuesday morning, Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Several other equities analysts have also recently issued reports on the company. UBS Group upped their price objective on Main Street Capital from $43.00 to $45.00 and gave the company a neutral rating in a research report on Friday, March 1st. B. Riley downgraded Main Street Capital from a buy rating to a neutral rating and set a $47.00 price target on the stock. in a report on Monday, January 8th. Oppenheimer lifted their price objective on Main Street Capital from $41.00 to $43.00 and gave the stock a market perform rating in a report on Monday, February 26th. Finally, Truist Financial boosted their target price on Main Street Capital from $43.00 to $45.00 and gave the stock a hold rating in a research report on Monday, February 26th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $46.17.

Main Street Capital Trading Up 1.0 %

Main Street Capital stock opened at $50.37 on Tuesday. Main Street Capital has a 12 month low of $37.70 and a 12 month high of $50.52. The company has a market capitalization of $4.28 billion, a price-to-earnings ratio of 9.65 and a beta of 1.25. The business’s fifty day simple moving average is $47.07 and its two-hundred day simple moving average is $44.14. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.14.

Main Street Capital (NYSE:MAIN) last announced its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $1.12 EPS for the quarter, beating the consensus estimate of $1.06 by $0.06. The company had revenue of $129.31 million for the quarter, compared to the consensus estimate of $125.52 million. Main Street Capital had a net margin of 85.62% and a return on equity of 14.99%. As a group, equities analysts predict that Main Street Capital will post 4.07 earnings per share for the current fiscal year.

Main Street Capital Increases Dividend

The firm also recently declared a dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 20th were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, March 19th. This represents a dividend yield of 8.37%. This is a positive change from Main Street Capital’s previous dividend of $0.24. Main Street Capital’s dividend payout ratio is presently 55.17%.

Hedge Funds Weigh In On Main Street Capital

A number of institutional investors and hedge funds have recently made changes to their positions in the business. LifeSteps Financial Inc. bought a new position in Main Street Capital in the first quarter worth approximately $35,000. Nomura Asset Management Co. Ltd. raised its holdings in Main Street Capital by 73.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,139 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 483 shares during the period. Signaturefd LLC lifted its position in Main Street Capital by 157.9% during the third quarter. Signaturefd LLC now owns 1,220 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 747 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in Main Street Capital by 23.8% during the third quarter. Hexagon Capital Partners LLC now owns 1,744 shares of the financial services provider’s stock valued at $71,000 after purchasing an additional 335 shares in the last quarter. Finally, Scarborough Advisors LLC purchased a new stake in Main Street Capital in the fourth quarter worth about $72,000. Hedge funds and other institutional investors own 20.31% of the company’s stock.

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.