Main Street Capital Corporation (NYSE:MAIN) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Analyst sentiment is cautious: Main Street Capital has a consensus rating of Hold from 11 analysts, with seven holds, three buys, and one sell. The average 12-month price target is about $59.14.
• Recent earnings missed expectations: The company reported $0.93 EPS versus the expected $1.04, and revenue of $73.44 million fell well short of the $145.23 million consensus estimate. Analysts still expect full-year EPS of 3.78.
• Income investors may note the dividend: Main Street Capital объявed a monthly dividend of $0.265 per share, payable September 15 to shareholders of record on September 8, implying an annualized yield of about 6.0%.

Main Street Capital Corporation (NYSE:MAIN - Get Free Report) has been assigned an average recommendation of "Hold" from the eleven analysts that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $59.1429.

MAIN has been the topic of several analyst reports. Royal Bank Of Canada cut their price target on shares of Main Street Capital from $66.00 to $58.00 and set an "outperform" rating on the stock in a report on Thursday, May 14th. Truist Financial dropped their target price on shares of Main Street Capital from $60.00 to $53.00 and set a "hold" rating on the stock in a research report on Tuesday, May 19th. Zacks Research downgraded Main Street Capital from a "hold" rating to a "strong sell" rating in a research note on Thursday, May 28th. Weiss Ratings lowered Main Street Capital from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, May 22nd. Finally, Wall Street Zen downgraded Main Street Capital from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th.

Insiders Place Their Bets

In other Main Street Capital news, EVP Jason B. Beauvais sold 6,830 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $51.73, for a total transaction of $353,315.90. Following the completion of the transaction, the executive vice president owned 196,185 shares in the company, valued at $10,148,650.05. This trade represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.83% of the company's stock.

Institutional Investors Weigh In On Main Street Capital

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Garner Asset Management Corp bought a new stake in shares of Main Street Capital during the 4th quarter valued at about $28,000. MassMutual Private Wealth & Trust FSB purchased a new stake in Main Street Capital in the second quarter valued at approximately $28,000. Smartleaf Asset Management LLC lifted its position in Main Street Capital by 109.6% during the second quarter. Smartleaf Asset Management LLC now owns 478 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 250 shares during the last quarter. Sankala Group LLC purchased a new position in Main Street Capital in the 4th quarter worth approximately $29,000. Finally, Investors Research Corp bought a new position in shares of Main Street Capital in the 4th quarter worth $30,000. 20.31% of the stock is currently owned by institutional investors.

Main Street Capital Stock Up 0.0%

Shares of Main Street Capital stock opened at $52.87 on Monday. The stock's 50-day moving average is $51.79 and its 200 day moving average is $55.95. Main Street Capital has a one year low of $48.95 and a one year high of $67.77. The firm has a market cap of $4.92 billion, a price-to-earnings ratio of 11.13 and a beta of 0.72. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.06 and a quick ratio of 0.06.

Main Street Capital (NYSE:MAIN - Get Free Report) last issued its earnings results on Thursday, May 7th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.11). Main Street Capital had a return on equity of 12.01% and a net margin of 74.86%.The company had revenue of $73.44 million for the quarter, compared to the consensus estimate of $145.23 million. Equities research analysts anticipate that Main Street Capital will post 3.78 EPS for the current year.

Main Street Capital Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 8th will be given a dividend of $0.265 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend is Tuesday, September 8th. Main Street Capital's dividend payout ratio is currently 66.95%.

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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