Overview

• US business development firm's preliminary Q2 annualized ROE exceeds 18%

• Preliminary NAV per share rises, driven by fair value gains in investment portfolios

• Results are preliminary and subject to quarter-end closing and review procedures

Outlook

• Company did not provide specific guidance or outlook for future quarters or full year

Result Drivers

• FAIR VALUE APPRECIATION - Net fair value appreciation in lower middle market and private loan investment portfolios drove NAV per share increase, per CEO Dwayne L. Hyzak

• PORTFOLIO ACTIVITY - Net increase in private loan portfolio cost basis and net decrease in lower middle market portfolio cost basis due to investment activity and repayments

• NON-ACCRUALS LOW - Investments on non-accrual status comprised 1.1% of portfolio at fair value, indicating limited credit issues

Company press release: ID:nPnb15M8ka

Key Details

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 9.5% above its July 15 closing price of $53.41

• The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 13 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.