Citizens Jmp Lowers Main Street Capital (NYSE:MAIN) Price Target to $70.00

Key Points

• Citizens Jmp cut its price target for Main Street Capital from $74 to $70 but kept a market outperform rating, implying about a 29.65% upside from the current share price.
• Analyst coverage is mixed — four Buy and seven Hold ratings produce a MarketBeat consensus of Hold with an average price target of $61.71, below Citizens Jmp's projection.
• Main Street recently beat quarterly estimates (EPS $1.09 vs. $1.06; revenue $156.2M vs. $141.5M), trades near $53.99 with a market cap of roughly $4.86B and a P/E of 9.78, and has a 52‑week range of $50.77–$67.77.

Main Street Capital (NYSE:MAIN - Get Free Report) had its target price dropped by equities research analysts at Citizens Jmp from $74.00 to $70.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a "market outperform" rating on the financial services provider's stock. Citizens Jmp's price target points to a potential upside of 29.65% from the stock's current price.

Several other equities research analysts also recently weighed in on MAIN. Citigroup reaffirmed an "outperform" rating on shares of Main Street Capital in a report on Tuesday, January 27th. Noble Financial reaffirmed a "neutral" rating on shares of Main Street Capital in a report on Thursday, January 15th. Wall Street Zen raised shares of Main Street Capital from a "sell" rating to a "hold" rating in a report on Saturday, January 10th. Finally, Loop Capital upgraded shares of Main Street Capital to a "neutral" rating and set a $65.00 price target on the stock in a research report on Thursday, January 15th. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $61.71.

Main Street Capital Stock Performance

MAIN stock opened at $53.99 on Wednesday. The company has a market capitalization of $4.86 billion, a P/E ratio of 9.78 and a beta of 0.80. The company has a 50-day simple moving average of $55.91 and a 200 day simple moving average of $58.54. Main Street Capital has a fifty-two week low of $50.77 and a fifty-two week high of $67.77. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.12.

Main Street Capital (NYSE:MAIN - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The financial services provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.03. The business had revenue of $156.17 million during the quarter, compared to the consensus estimate of $141.50 million. Main Street Capital had a net margin of 87.11% and a return on equity of 12.44%. Sell-side analysts predict that Main Street Capital will post 4.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Main Street Capital

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its position in Main Street Capital by 6.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,734,461 shares of the financial services provider's stock worth $165,135,000 after acquiring an additional 162,580 shares in the last quarter. Van ECK Associates Corp raised its holdings in Main Street Capital by 100.9% during the 3rd quarter. Van ECK Associates Corp now owns 2,448,201 shares of the financial services provider's stock worth $155,681,000 after buying an additional 1,229,863 shares during the period. Corient Private Wealth LLC raised its holdings in Main Street Capital by 3,880.8% during the 4th quarter. Corient Private Wealth LLC now owns 890,461 shares of the financial services provider's stock worth $53,774,000 after buying an additional 868,092 shares during the period. UBS Group AG raised its holdings in Main Street Capital by 160.7% during the 3rd quarter. UBS Group AG now owns 866,884 shares of the financial services provider's stock worth $55,125,000 after buying an additional 534,374 shares during the period. Finally, Legal & General Group Plc raised its holdings in Main Street Capital by 15.2% during the 4th quarter. Legal & General Group Plc now owns 719,967 shares of the financial services provider's stock worth $43,479,000 after buying an additional 95,177 shares during the period. 20.31% of the stock is currently owned by institutional investors.

About Main Street Capital

Main Street Capital Corporation NYSE: MAIN is a publicly traded business development company that provides flexible debt and equity capital to lower middle market companies in the United States. Headquartered in Houston, Texas, Main Street Capital was formed in 2007 and operates under the Investment Company Act of 1940. The firm's management services are provided by Main Street Capital Management, L.P., which focuses on identifying growing private companies with enterprise values typically between $10 million and $150 million.

Main Street Capital's primary offerings include first-lien senior secured loans, second-lien loans, subordinated debt, and equity co-investments or minority equity positions.

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