Main Street Capital (MAIN) Gains As Market Dips: What You Should Know
In the latest trading session, Main Street Capital (MAIN) closed at $42.11, marking a +0.67% move from the previous day. This move outpaced the S&P 500's daily loss of 0.02%. Meanwhile, the Dow gained 0.23%, and the Nasdaq, a tech-heavy index, lost 0.12%.
Prior to today's trading, shares of the investment firm had gained 7.67% over the past month. This has outpaced the Finance sector's gain of 7.54% and the S&P 500's gain of 5.14% in that time.
Wall Street will be looking for positivity from Main Street Capital as it approaches its next earnings report date. This is expected to be August 3, 2023. The company is expected to report EPS of $0.99, up 32% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $120.03 million, up 40.88% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.99 per share and revenue of $484.86 million. These totals would mark changes of +21.28% and +28.66%, respectively, from last year.
Any recent changes to analyst estimates for Main Street Capital should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.69% higher. Main Street Capital currently has a Zacks Rank of #2 (Buy).
Looking at its valuation, Main Street Capital is holding a Forward P/E ratio of 10.48. This valuation marks a premium compared to its industry's average Forward P/E of 7.4.
The Financial - SBIC & Commercial Industry industry is part of the Finance sector. This group has a Zacks Industry Rank of 93, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MAIN in the coming trading sessions, be sure to utilize Zacks.com.
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Main Street Capital Corporation (MAIN) : Free Stock Analysis Report
