Main Street Capital Co. (NYSE:MAIN) announced a monthly dividend on Monday, August 5th, NASDAQ reports. Investors of record on Thursday, September 19th will be paid a dividend of 0.205 per share by the financial services provider on Tuesday, October 15th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 5.68%. The ex-dividend date of this dividend is Wednesday, September 18th.
Main Street Capital has raised its dividend payment by an average of 3.0% annually over the last three years and has increased its dividend every year for the last 8 years. Main Street Capital has a payout ratio of 97.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Main Street Capital to earn $2.55 per share next year, which means the company should continue to be able to cover its $2.46 annual dividend with an expected future payout ratio of 96.5%.
NYSE MAIN opened at $43.30 on Monday. Main Street Capital has a 52 week low of $31.95 and a 52 week high of $44.30. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.21. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 16.65 and a beta of 0.82. The company has a 50-day moving average price of $42.85 and a two-hundred day moving average price of $40.47.
Main Street Capital (NYSE:MAIN) last posted its earnings results on Thursday, August 8th. The financial services provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.62 by $0.01. Main Street Capital had a net margin of 65.74% and a return on equity of 10.57%. The firm had revenue of $61.30 million during the quarter, compared to analysts’ expectations of $61.33 million. During the same quarter in the prior year, the firm earned $0.66 EPS. Main Street Capital’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts expect that Main Street Capital will post 2.54 earnings per share for the current fiscal year.
Several research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Main Street Capital from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. B. Riley set a $43.00 price objective on shares of Main Street Capital and gave the company a “buy” rating in a report on Tuesday, August 20th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $40.80.
Main Street Capital Company Profile
Main Street Capital Corporation is a business development company specializing in long- term equity and debt investments in small and lower middle market companies. The firm focuses on investments in, subordinated loans, private equity, venture debt, mezzanine investments, mature, mid venture, industry consolidation, later stage, late venture, emerging growth, management buyouts, change of control transactions, ownership transitions, recapitalizations, strategic acquisitions, refinancing, business expansion capital, growth financings, family estate planning, and other growth initiatives primarily for later stage businesses.
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