Main Street Capital Q2 net investment income rises to $88.2 mln
Overview
Main Street Q2 net investment income rises to $88.2 mln, $0.99 per share
Distributable net investment income reaches $94.3 mln, $1.06 per share
Net asset value per share increases 0.8% to $32.30, driven by fair value gains
Result Drivers
DIVIDEND INCOME - Increase in dividend income from LMM portfolio companies contributed significantly to total investment income growth
FAIR VALUE GAINS - Record net fair value increase, including largest realized gain in company history, boosted net asset value per share
COST EFFICIENCY - Maintained low operating expenses to assets ratio, reflecting cost efficiency despite increased expenses
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Net Income |
| $88.2 mln |
|
Q2 Net Asset Value |
| $2.90 bln |
|
Q2 Net Asset Value Per Share |
| $32.3 |
|
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 5 "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 $56.00, about 14.6% below its August 6 closing price of $64.15
The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 14 three months ago
Press Release: ID:nPn29KdQka
