Main Street Capital (NYSE:MAIN) Now Covered by Royal Bank of Canada

Equities research analysts at Royal Bank of Canada began coverage on shares of Main Street Capital (NYSE:MAIN) in a research note issued on Tuesday, The Fly reports. The brokerage set an “outperform” rating and a $44.00 price target on the financial services provider’s stock. Royal Bank of Canada’s target price points to a potential upside of 2.25% from the company’s current price.

A number of other equities analysts have also issued reports on MAIN. B. Riley set a $43.00 target price on shares of Main Street Capital and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Zacks Investment Research lowered shares of Main Street Capital from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. National Securities began coverage on shares of Main Street Capital in a research report on Monday, September 23rd. They set a “neutral” rating and a $40.00 target price on the stock. Finally, Raymond James lowered shares of Main Street Capital from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 22nd. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $43.50.

Shares of MAIN stock traded up $0.12 during trading hours on Tuesday, reaching $43.03. 251,674 shares of the company were exchanged, compared to its average volume of 239,835. Main Street Capital has a fifty-two week low of $31.95 and a fifty-two week high of $44.35. The stock’s fifty day moving average is $42.59 and its two-hundred day moving average is $41.96. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 16.55 and a beta of 0.79. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.13 and a quick ratio of 0.15.

Main Street Capital (NYSE:MAIN) last announced its earnings results on Thursday, November 7th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.01). Main Street Capital had a return on equity of 10.59% and a net margin of 50.85%. The company had revenue of $60.07 million for the quarter, compared to analyst estimates of $61.26 million. During the same quarter in the previous year, the company posted $0.63 earnings per share. Main Street Capital’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, research analysts anticipate that Main Street Capital will post 2.49 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Eqis Capital Management Inc. acquired a new position in Main Street Capital in the third quarter valued at approximately $231,000. Putnam FL Investment Management Co. lifted its holdings in Main Street Capital by 2,898.2% in the third quarter. Putnam FL Investment Management Co. now owns 6,566 shares of the financial services provider’s stock valued at $284,000 after buying an additional 6,347 shares during the period. Benjamin Edwards Inc. lifted its holdings in Main Street Capital by 65.3% in the third quarter. Benjamin Edwards Inc. now owns 620 shares of the financial services provider’s stock valued at $27,000 after buying an additional 245 shares during the period. Brasada Capital Management LP lifted its holdings in Main Street Capital by 1.4% in the third quarter. Brasada Capital Management LP now owns 157,717 shares of the financial services provider’s stock valued at $6,815,000 after buying an additional 2,178 shares during the period. Finally, Creative Planning lifted its holdings in Main Street Capital by 4.3% in the third quarter. Creative Planning now owns 30,182 shares of the financial services provider’s stock valued at $1,304,000 after buying an additional 1,244 shares during the period. Institutional investors and hedge funds own 22.26% of the company’s stock.

About Main Street Capital

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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