$58.65 Million in Sales Expected for Main Street Capital Co. (NYSE:MAIN) This Quarter

Last updated on Monday, April 19, 2021 | 2021 MarketBeat

Wall Street analysts expect that Main Street Capital Co. (NYSE:MAIN) will report sales of $58.65 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Main Street Capital's earnings, with the highest sales estimate coming in at $58.86 million and the lowest estimate coming in at $58.44 million. Main Street Capital reported sales of $56.15 million in the same quarter last year, which suggests a positive year over year growth rate of 4.5%. The business is scheduled to report its next quarterly earnings results on Thursday, May 6th.

According to Zacks, analysts expect that Main Street Capital will report full year sales of $244.25 million for the current year, with estimates ranging from $240.09 million to $248.41 million. For the next financial year, analysts expect that the business will post sales of $263.34 million, with estimates ranging from $255.60 million to $271.07 million. Zacks Investment Research's sales calculations are a mean average based on a survey of research analysts that follow Main Street Capital.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings data on Thursday, February 25th. The financial services provider reported $0.59 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.50 by $0.09. Main Street Capital had a negative net margin of 15.34% and a positive return on equity of 9.71%. The company had revenue of $62.50 million for the quarter, compared to analyst estimates of $54.94 million.

A number of analysts recently weighed in on MAIN shares. Truist increased their price objective on shares of Main Street Capital from $32.00 to $37.00 in a research report on Friday, March 5th. Royal Bank of Canada increased their price objective on shares of Main Street Capital from $34.00 to $40.00 and gave the stock an "outperform" rating in a research report on Thursday, March 4th. Zacks Investment Research raised shares of Main Street Capital from a "hold" rating to a "buy" rating and set a $41.00 price objective on the stock in a research report on Wednesday, March 3rd. Finally, Raymond James upgraded shares of Main Street Capital from a "market perform" rating to an "outperform" rating and set a $41.00 target price on the stock in a research note on Thursday, April 1st. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company's stock. The company presently has a consensus rating of "Buy" and an average target price of $36.67.

Main Street Capital stock opened at $42.24 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.07 and a quick ratio of 0.07. Main Street Capital has a 1-year low of $21.50 and a 1-year high of $42.38. The firm has a market capitalization of $2.87 billion, a P/E ratio of -74.10 and a beta of 1.42. The company's 50-day moving average is $38.82 and its 200 day moving average is $33.39.

The business also recently announced a monthly dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Friday, May 28th will be paid a $0.205 dividend. The ex-dividend date is Thursday, May 27th. This represents a $2.46 dividend on an annualized basis and a yield of 5.82%. Main Street Capital's dividend payout ratio is currently 98.40%.

In other news, SVP Jason B. Beauvais sold 4,573 shares of the stock in a transaction that occurred on Wednesday, March 24th. The shares were sold at an average price of $38.18, for a total transaction of $174,597.14. Following the transaction, the senior vice president now directly owns 136,423 shares in the company, valued at $5,208,630.14. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Jason B. Beauvais sold 4,841 shares of the stock in a transaction that occurred on Friday, March 26th. The shares were sold at an average price of $39.04, for a total transaction of $188,992.64. Following the transaction, the senior vice president now owns 136,423 shares in the company, valued at $5,325,953.92. The disclosure for this sale can be found here. 5.10% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Marshall Wace North America L.P. acquired a new stake in Main Street Capital in the first quarter valued at approximately $30,000. Squarepoint Ops LLC acquired a new stake in shares of Main Street Capital in the 3rd quarter worth $292,000. Great West Life Assurance Co. Can grew its stake in Main Street Capital by 10.9% during the 3rd quarter. Great West Life Assurance Co. Can now owns 25,467 shares of the financial services provider's stock worth $753,000 after buying an additional 2,495 shares during the last quarter. Chiron Capital Management LLC acquired a new position in Main Street Capital during the 3rd quarter valued at about $68,000. Finally, Van ECK Associates Corp raised its stake in Main Street Capital by 3.0% in the third quarter. Van ECK Associates Corp now owns 354,932 shares of the financial services provider's stock valued at $10,495,000 after buying an additional 10,420 shares during the last quarter. Hedge funds and other institutional investors own 19.46% of the company's stock.

About Main Street Capital

Main Street Capital Corporation is a private equity firm specializes in equity capital to lower middle market companies. The firm also provides debt capital to middle market companies for acquisitions, management buyouts, growth financings, recapitalizations and refinancing. The firm seeks to partner with entrepreneurs, business owners and management teams and generally provides "one stop" financing alternatives within its lower middle market portfolio.

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