Main Street Capital (NYSE:MAIN) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Main Street Capital (NYSE:MAIN - Get Free Report) issued its earnings results on Thursday. The financial services provider reported $1.05 EPS for the quarter, beating the consensus estimate of $1.03 by $0.02, Zacks reports. Main Street Capital had a net margin of 85.62% and a return on equity of 14.99%. The company had revenue of $131.61 million during the quarter, compared to analysts' expectations of $128.00 million. During the same quarter in the previous year, the company posted $1.02 EPS.

Main Street Capital Stock Performance

NYSE:MAIN traded down $1.35 during mid-day trading on Friday, hitting $49.41. 629,240 shares of the stock were exchanged, compared to its average volume of 351,679. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.09 and a current ratio of 0.09. The firm's 50-day simple moving average is $47.55 and its 200 day simple moving average is $44.51. Main Street Capital has a fifty-two week low of $37.70 and a fifty-two week high of $51.10. The stock has a market capitalization of $4.20 billion, a price-to-earnings ratio of 9.47 and a beta of 1.25.

Main Street Capital Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, September 6th will be given a $0.245 dividend. This represents a $2.94 annualized dividend and a dividend yield of 5.95%. The ex-dividend date of this dividend is Friday, September 6th. Main Street Capital's payout ratio is 55.17%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. UBS Group increased their target price on Main Street Capital from $43.00 to $45.00 and gave the company a "neutral" rating in a research note on Friday, March 1st. Oppenheimer boosted their price target on Main Street Capital from $41.00 to $43.00 and gave the company a "market perform" rating in a report on Monday, February 26th. Truist Financial increased their price objective on Main Street Capital from $43.00 to $45.00 and gave the stock a "hold" rating in a report on Monday, February 26th. Finally, Royal Bank of Canada boosted their price target on shares of Main Street Capital from $48.00 to $52.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 30th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Main Street Capital currently has an average rating of "Hold" and an average target price of $46.17.

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.