Published Thu, 08 Nov 2018 13:37:16 -0500 on Seeking Alpha
Recap/Focus of Article: On 11/1/2018, Main Street Capital Corp. (MAIN) reported quarterly net investment income (“NII”) of $0.626 per share and a net asset value (“NAV”) as of 9/30/2018 of $24.69 per share. In comparison, I projected MAIN would report quarterly NII of $0.618 per share and a NAV as of 6/30/2018 of $24.40 per share in the following article:
Main Street Capital's Q3 2018 NAV And NII Projection (Includes Current Recommendation And Price Target)
When calculated, my NII and NAV projections had a variance of ($0.008) and ($0.29) per share, respectively. As such, I believe MAIN’s quarterly NII should be seen as a very minor outperformance while the company’s NAV was a modest outperformance (basically at the top end of my projected range).
Within the first section of this article, I will summarize my prior article’s account projections and compare each amount to MAIN’s actual results. If an account had at least a modest variance between projected and actual results, I will also provide an explanation on the variance. I will list MAIN’s accounts in the same order as projected within my income statement and EPS projection article (see link provided above).
The second part of this assessment article performs a FMV investing rating analysis on MAIN’s portfolio companies over the prior several quarters. This article then discusses MAIN’s recently announced change when it comes to the... Read more
|Stock name||Last trade||P/E||Earnings/Share||Dividend/Share||Dividend yield|
|TWO HARBORS INVESTMENT||13.79||98.5||0.14||1.88||13.62|
|OAKTREE SPECIALTY LENDING||4.90||0.0||-1.39||0.50||10.02|
|NEWTEK BUSINESS SERVICES||18.74||0.0||0.00||1.60||8.65|
|OAKTREE STRATEGIC INCOME||8.22||45.7||0.18||0.62||7.51|
|GOLUB CAPITAL BDC||17.89||13.6||1.32||1.28||7.18|
|PENNANTPARK FLOATING RATE CAPITAL||12.81||13.6||0.94||0.76||5.91|
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