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

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

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

Main Street Capital Stock Up 1.0 %

Main Street Capital stock opened at $50.37 on Tuesday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $4.28 billion, a PE ratio of 9.65 and a beta of 1.25. The firm’s fifty day moving average is $47.07 and its 200 day moving average is $44.14. Main Street Capital has a 12-month low of $37.70 and a 12-month high of $50.52.

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

Main Street Capital Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 20th were paid a $0.30 dividend. This represents a dividend yield of 8.37%. The ex-dividend date was Tuesday, March 19th. This is an increase from Main Street Capital’s previous dividend of $0.24. Main Street Capital’s payout ratio is presently 55.17%.

Institutional Trading of Main Street Capital

Hedge funds have recently bought and sold shares of the business. LifeSteps Financial Inc. purchased a new stake in shares of Main Street Capital during the 1st quarter valued at $35,000. Nomura Asset Management Co. Ltd. increased its holdings in Main Street Capital by 73.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 1,139 shares of the financial services provider’s stock worth $49,000 after buying an additional 483 shares during the last quarter. Signaturefd LLC raised its position in Main Street Capital by 157.9% in the third quarter. Signaturefd LLC now owns 1,220 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 747 shares during the period. Hexagon Capital Partners LLC boosted its stake in Main Street Capital by 23.8% in the third quarter. Hexagon Capital Partners LLC now owns 1,744 shares of the financial services provider’s stock valued at $71,000 after acquiring an additional 335 shares during the last quarter. Finally, Scarborough Advisors LLC purchased a new position in Main Street Capital in the fourth quarter valued at about $72,000. 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.