Company maintains a positive outlook, citing confidence in diversified investment strategies
Result drivers
Higher interest and fee income - Co said total investment income rose due to increased interest from higher average debt investments and more fee income from refinancing and investment activity
Dividend income drop - Dividend income fell, mainly from lower middle market portfolio companies, offsetting some investment income gains
Realized gains and fair value appreciation - Net increase in net assets driven by realized gain on exit of LMM investment and net fair value appreciation in investment portfolio
Analyst coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 7 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the investment banking & brokerage services peer group is "buy."
Wall Street's median 12-month price target for Main Street Capital Corp is $58.50, about 4.3% above its August 5 closing price of $56.11
The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 13 three months ago
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