Main Street Capital Co. (NYSE:MAIN) – Equities research analysts at SunTrust Banks cut their Q2 2019 earnings estimates for Main Street Capital in a note issued to investors on Wednesday, May 15th. SunTrust Banks analyst M. Hughes now anticipates that the financial services provider will post earnings of $0.62 per share for the quarter, down from their prior forecast of $0.64. SunTrust Banks also issued estimates for Main Street Capital’s Q3 2019 earnings at $0.65 EPS, Q4 2019 earnings at $0.66 EPS and Q1 2020 earnings at $0.66 EPS.
Main Street Capital (NYSE:MAIN) last announced its quarterly earnings results on Thursday, May 9th. The financial services provider reported $0.64 EPS for the quarter, topping the consensus estimate of $0.62 by $0.02. The business had revenue of $61.40 million for the quarter, compared to analysts’ expectations of $60.33 million. Main Street Capital had a net margin of 73.33% and a return on equity of 10.70%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.63 EPS.
Shares of MAIN stock opened at $40.36 on Friday. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 15.52 and a beta of 0.96. Main Street Capital has a 52 week low of $31.95 and a 52 week high of $41.02. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.13 and a current ratio of 0.12.
The business also recently declared a monthly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, August 20th will be paid a $0.205 dividend. This represents a $2.46 annualized dividend and a yield of 6.10%. The ex-dividend date of this dividend is Monday, August 19th. Main Street Capital’s payout ratio is currently 92.31%.
Hedge funds have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in shares of Main Street Capital by 11.5% in the 3rd quarter. BlackRock Inc. now owns 273,473 shares of the financial services provider’s stock worth $10,529,000 after buying an additional 28,267 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Main Street Capital by 126.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 46,424 shares of the financial services provider’s stock worth $1,788,000 after buying an additional 25,929 shares during the last quarter. Morgan Stanley increased its holdings in shares of Main Street Capital by 29.3% in the 3rd quarter. Morgan Stanley now owns 212,861 shares of the financial services provider’s stock worth $8,195,000 after buying an additional 48,252 shares during the last quarter. Capital Investment Advisors LLC increased its holdings in shares of Main Street Capital by 1.1% in the 4th quarter. Capital Investment Advisors LLC now owns 44,134 shares of the financial services provider’s stock worth $1,492,000 after buying an additional 460 shares during the last quarter. Finally, V Wealth Advisors LLC bought a new stake in shares of Main Street Capital in the 4th quarter worth about $282,000. Institutional investors and hedge funds own 23.10% of the company’s stock.
Main Street Capital Company Profile
Main Street Capital Corporation is a business development company specializing in long- term equity and debt investments in small and lower middle market companies. The firm focuses on investments in, subordinated loans, private equity, venture debt, mezzanine investments, mature, mid venture, industry consolidation, later stage, late venture, emerging growth, management buyouts, change of control transactions, ownership transitions, recapitalizations, strategic acquisitions, refinancing, business expansion capital, growth financings, family estate planning, and other growth initiatives primarily for later stage businesses.
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