Overview
Main Street Capital's Q3 preliminary net investment income per share estimated at $0.95 to $0.99
Distributable net investment income per share estimated at $1.01 to $1.05
Net asset value per share rises 1.3% to 1.6% after $0.30 dividend
Outlook
Company did not provide specific guidance for future quarters or full year in its press release
Result Drivers
NET ASSET VALUE INCREASE - Co reports record net asset value per share for the 13th consecutive qtr, driven by net fair value increases in lower middle market investments
HIGH RETURN ON EQUITY - Co estimates return on equity over 16% for Q3, attributed to net increases in investment portfolio fair value and net tax provision
INVESTMENT STRATEGY - Co invested $106.2 mln in LMM portfolio and $113.3 mln in private loan portfolio, with repayments and cost basis reductions resulting in net increases
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 ROE | 16% |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the investment banking & brokerage services peer group is "hold"
Wall Street's median 12-month price target for Main Street Capital Corp is $62.00, about 8.8% above its October 13 closing price of $56.57
The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 15 three months ago
Press Release: ID:nPn2tZFYQa
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)