Published On: Wed, Sep 14th, 2016

Main Street Capital Corp. (NYSE:MAIN) Given Average Recommendation of “Buy” by Analysts

Shares of Main Street Capital Corp. (NYSE:MAIN) have been given an average recommendation of “Buy” by the nine analysts that are presently covering the company. Three research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $35.67.
Several research firms have recently commented on MAIN. Robert W. Baird reissued an “outperform” rating and set a $37.00 target price (up from $36.00) on shares of Main Street Capital Corp. in a research report on Wednesday, August 17th. RBC Capital Markets reissued an “outperform” rating and set a $35.00 target price (up from $32.00) on shares of Main Street Capital Corp. in a research report on Saturday, August 13th. Zacks Investment Research downgraded shares of Main Street Capital Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, August 11th. Royal Bank Of Canada boosted their target price on shares of Main Street Capital Corp. from $32.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, August 11th. Finally, National Securities reissued a “neutral” rating and set a $33.00 target price on shares of Main Street Capital Corp. in a research report on Wednesday, August 10th.
In related news, Chairman Vincent D. Foster bought 2,764 shares of Main Street Capital Corp. stock in a transaction dated Friday, July 15th. The stock was purchased at an average cost of $33.01 per share, with a total value of $91,239.64. Following the transaction, the chairman now directly owns 1,527,417 shares of the company’s stock, valued at $50,420,035.17. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Vincent D. Foster bought 4,210 shares of Main Street Capital Corp. stock in a transaction dated Monday, June 27th. The shares were bought at an average cost of $32.76 per share, with a total value of $137,919.60. Following the completion of the transaction, the chief executive officer now directly owns 1,523,329 shares in the company, valued at $49,904,258.04. The disclosure for this purchase can be found here. Insiders own 5.69% of the company’s stock.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/14/main-street-capital-corp-nysemain-given-average-recommendation-of-buy-by-analysts.html

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sanders Morris Harris Inc. bought a new position in Main Street Capital Corp. during the first quarter worth $75,077,000. UBS Group AG increased its position in Main Street Capital Corp. by 67.0% in the first quarter. UBS Group AG now owns 821,378 shares of the company’s stock worth $25,750,000 after buying an additional 329,485 shares in the last quarter. Royal Bank of Canada increased its position in Main Street Capital Corp. by 0.5% in the second quarter. Royal Bank of Canada now owns 435,181 shares of the company’s stock worth $14,297,000 after buying an additional 2,153 shares in the last quarter. Muzinich & Co. Inc. increased its position in Main Street Capital Corp. by 0.9% in the second quarter. Muzinich & Co. Inc. now owns 357,363 shares of the company’s stock worth $11,739,000 after buying an additional 3,083 shares in the last quarter. Finally, BlackRock Group LTD increased its position in Main Street Capital Corp. by 14.6% in the second quarter. BlackRock Group LTD now owns 252,769 shares of the company’s stock worth $8,303,000 after buying an additional 32,142 shares in the last quarter. 26.77% of the stock is owned by hedge funds and other institutional investors.
Shares of Main Street Capital Corp. (NYSE:MAIN) traded up 0.222% during midday trading on Wednesday, reaching $33.805. 163,273 shares of the company’s stock traded hands. The firm has a market cap of $1.77 billion, a PE ratio of 22.522 and a beta of 0.83. The stock has a 50-day moving average price of $34.07 and a 200 day moving average price of $32.34. Main Street Capital Corp. has a 12 month low of $24.21 and a 12 month high of $34.72.
Main Street Capital Corp. (NYSE:MAIN) last posted its earnings results on Monday, August 8th. The company reported $0.54 EPS for the quarter, hitting the consensus estimate of $0.54. The company earned $42.90 million during the quarter, compared to the consensus estimate of $43.48 million. Main Street Capital Corp. had a net margin of 44.40% and a return on equity of 10.30%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.55 earnings per share. Equities research analysts predict that Main Street Capital Corp. will post $2.16 earnings per share for the current year.
The business also recently announced a monthly dividend, which will be paid on Tuesday, December 13th. Stockholders of record on Monday, November 21st will be given a dividend of $0.185 per share. This represents a $2.22 dividend on an annualized basis and a dividend yield of 6.58%. The ex-dividend date is Thursday, November 17th. Main Street Capital Corp.’s dividend payout ratio is currently 144.97%.
About Main Street Capital Corp.
Main Street Capital Corporation (MSCC) is a principal investment firm. MSCC is primarily focused on providing customized debt and equity financing to lower middle market (LMM) companies and debt capital to middle market (Middle Market) companies. The Company’s portfolio investments are made to support management buyouts, recapitalizations, growth financings, refinancings and acquisitions of companies that operate in various industry sectors.

Receive News & Ratings for Main Street Capital Corp. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Main Street Capital Corp. and related companies with MarketBeat.com’s FREE daily email newsletter.

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>