Main Street Capital (NYSE:MAIN) Price Target Raised to $52.00 at Royal Bank of Canada

Main Street Capital (NYSE:MAIN) had its price objective boosted by Royal Bank of Canada from $48.00 to $52.00 in a report published on Tuesday, Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

Other equities research analysts have also issued reports about the company. UBS Group increased their price target on Main Street Capital from $43.00 to $45.00 and gave the stock a neutral rating in a research report on Friday, March 1st. Oppenheimer increased their price objective on Main Street Capital from $41.00 to $43.00 and gave the company a market perform rating in a research report on Monday, February 26th. Truist Financial increased their price objective on Main Street Capital from $43.00 to $45.00 and gave the company a hold rating in a research report on Monday, February 26th. Finally, B. Riley lowered Main Street Capital from a buy rating to a neutral rating and set a $47.00 price objective on the stock. in a research report on Monday, January 8th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Main Street Capital currently has a consensus rating of Hold and an average price target of $46.17.

Main Street Capital Stock Down 0.2 %

NYSE MAIN opened at $49.61 on Tuesday. The firm has a market cap of $4.22 billion, a PE ratio of 9.50 and a beta of 1.29. Main Street Capital has a one year low of $37.70 and a one year high of $49.79. The stock’s 50 day simple moving average is $46.78 and its 200 day simple moving average is $43.98. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.09 and a quick ratio of 0.09.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.06. The business had revenue of $129.31 million for the quarter, compared to analyst estimates of $125.52 million. Main Street Capital had a return on equity of 14.99% and a net margin of 85.62%. As a group, sell-side analysts forecast that Main Street Capital will post 4.07 earnings per share for the current fiscal year.

Main Street Capital Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 20th were given a $0.30 dividend. This is a positive change from Main Street Capital’s previous dividend of $0.24. This represents a dividend yield of 8.37%. The ex-dividend date was Tuesday, March 19th. Main Street Capital’s dividend payout ratio (DPR) is currently 55.17%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Wambolt & Associates LLC boosted its position in shares of Main Street Capital by 17.6% in the 1st quarter. Wambolt & Associates LLC now owns 79,392 shares of the financial services provider’s stock worth $3,725,000 after purchasing an additional 11,889 shares during the last quarter. Private Advisor Group LLC boosted its position in shares of Main Street Capital by 9.8% in the 1st quarter. Private Advisor Group LLC now owns 118,278 shares of the financial services provider’s stock worth $5,596,000 after purchasing an additional 10,543 shares during the last quarter. J.W. Cole Advisors Inc. boosted its position in shares of Main Street Capital by 9.1% in the 1st quarter. J.W. Cole Advisors Inc. now owns 13,766 shares of the financial services provider’s stock worth $651,000 after purchasing an additional 1,149 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Main Street Capital by 13.9% in the 1st quarter. Van ECK Associates Corp now owns 1,008,783 shares of the financial services provider’s stock worth $47,726,000 after purchasing an additional 122,757 shares during the last quarter. Finally, Perigon Wealth Management LLC raised its stake in Main Street Capital by 7.1% during the 1st quarter. Perigon Wealth Management LLC now owns 8,320 shares of the financial services provider’s stock worth $394,000 after buying an additional 550 shares during the period. 20.31% of the stock is currently owned by institutional investors.

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.