Wall Street brokerages expect Main Street Capital Co. (NYSE:MAIN) to report sales of $61.36 million for the current quarter, Zacks reports. Three analysts have provided estimates for Main Street Capital’s earnings. The lowest sales estimate is $59.78 million and the highest is $63.11 million. Main Street Capital posted sales of $58.26 million during the same quarter last year, which would indicate a positive year over year growth rate of 5.3%. The business is scheduled to issue its next earnings report after the market closes on Thursday, November 7th.
On average, analysts expect that Main Street Capital will report full year sales of $246.99 million for the current fiscal year, with estimates ranging from $242.45 million to $251.68 million. For the next financial year, analysts anticipate that the business will report sales of $260.01 million, with estimates ranging from $239.15 million to $280.08 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Main Street Capital.
Main Street Capital (NYSE:MAIN) last issued its quarterly earnings results on Thursday, August 8th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.01. Main Street Capital had a return on equity of 10.57% and a net margin of 65.74%. The firm had revenue of $61.30 million during the quarter, compared to analyst estimates of $61.33 million. During the same period last year, the company earned $0.66 EPS. Main Street Capital’s quarterly revenue was up 2.3% compared to the same quarter last year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MAIN. NEXT Financial Group Inc increased its holdings in shares of Main Street Capital by 3.4% in the 3rd quarter. NEXT Financial Group Inc now owns 16,143 shares of the financial services provider’s stock valued at $698,000 after acquiring an additional 524 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Main Street Capital by 65.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 25,949 shares of the financial services provider’s stock valued at $1,121,000 after acquiring an additional 10,265 shares during the period. Strategic Blueprint LLC purchased a new position in shares of Main Street Capital in the 3rd quarter valued at $35,000. DNB Asset Management AS increased its holdings in shares of Main Street Capital by 35.6% in the 3rd quarter. DNB Asset Management AS now owns 72,038 shares of the financial services provider’s stock valued at $3,113,000 after acquiring an additional 18,926 shares during the period. Finally, Confluence Investment Management LLC increased its holdings in shares of Main Street Capital by 4.3% in the 3rd quarter. Confluence Investment Management LLC now owns 81,598 shares of the financial services provider’s stock valued at $3,526,000 after acquiring an additional 3,375 shares during the period. Institutional investors own 22.45% of the company’s stock.
Shares of MAIN stock traded up $0.13 on Monday, reaching $42.17. 218,908 shares of the company’s stock were exchanged, compared to its average volume of 226,778. Main Street Capital has a 52 week low of $31.95 and a 52 week high of $44.35. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $2.65 billion, a PE ratio of 16.22 and a beta of 0.80. The company’s fifty day simple moving average is $42.97 and its 200 day simple moving average is $41.32.
The company also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be issued a dividend of $0.205 per share. The ex-dividend date of this dividend is Thursday, October 17th. This represents a $2.46 annualized dividend and a yield of 5.83%. Main Street Capital’s payout ratio is currently 94.62%.
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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