B. Riley Comments on Main Street Capital Co.’s Q3 2024 Earnings (NYSE:MAIN)

Main Street Capital Co. (NYSE:MAIN) – Analysts at B. Riley boosted their Q3 2024 earnings per share (EPS) estimates for shares of Main Street Capital in a research report issued on Monday, August 12th. B. Riley analyst B. Rowe now forecasts that the financial services provider will post earnings of $1.02 per share for the quarter, up from their previous estimate of $0.97. B. Riley has a “Neutral” rating and a $49.00 price objective on the stock. The consensus estimate for Main Street Capital’s current full-year earnings is $4.08 per share. B. Riley also issued estimates for Main Street Capital’s Q4 2024 earnings at $1.06 EPS, Q1 2025 earnings at $0.97 EPS, Q2 2025 earnings at $0.98 EPS, Q3 2025 earnings at $1.00 EPS, Q4 2025 earnings at $1.01 EPS and FY2025 earnings at $3.96 EPS.

Several other equities analysts have also recently issued reports on MAIN. Truist Financial boosted their price objective on Main Street Capital from $45.00 to $52.00 and gave the company a “hold” rating in a report on Monday, May 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $52.00 price objective on shares of Main Street Capital in a report on Wednesday. Finally, Oppenheimer boosted their price objective on Main Street Capital from $43.00 to $44.00 and gave the company a “market perform” rating in a report on Tuesday. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $48.40.

Main Street Capital Stock Performance

Shares of MAIN stock opened at $49.24 on Wednesday. The stock has a market cap of $4.22 billion, a PE ratio of 8.99 and a beta of 1.29. The business has a 50-day simple moving average of $50.13 and a 200-day simple moving average of $48.19. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.11. Main Street Capital has a 52-week low of $37.70 and a 52-week high of $52.39.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings results on Thursday, August 8th. The financial services provider reported $1.01 earnings per share for the quarter, meeting the consensus estimate of $1.01. The business had revenue of $132.15 million for the quarter, compared to the consensus estimate of $132.62 million. Main Street Capital had a return on equity of 14.83% and a net margin of 89.11%. During the same quarter in the previous year, the business earned $1.06 EPS.

Hedge Funds Weigh In On Main Street Capital

Large investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its holdings in shares of Main Street Capital by 2.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,435,508 shares of the financial services provider’s stock valued at $148,518,000 after acquiring an additional 71,698 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Main Street Capital by 14.0% during 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 acquiring an additional 141,312 shares during the last quarter. Burgundy Asset Management Ltd. raised its holdings in shares of Main Street Capital by 1.6% during the second quarter. Burgundy Asset Management Ltd. now owns 1,106,782 shares of the financial services provider’s stock valued at $55,881,000 after acquiring an additional 17,623 shares during the last quarter. Adell Harriman & Carpenter Inc. raised its holdings in shares of Main Street Capital by 26.9% during the second 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, Sound Income Strategies LLC raised its holdings in shares of Main Street Capital by 2.2% during the first quarter. Sound Income Strategies LLC now owns 359,773 shares of the financial services provider’s stock valued at $17,021,000 after acquiring an additional 7,790 shares during the last quarter. Institutional investors and hedge funds own 20.31% of the company’s stock.

Main Street Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, December 6th will be issued a $0.245 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $2.94 dividend on an annualized basis and a yield of 5.97%. Main Street Capital’s payout ratio is 53.65%.

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.