Main Street Capital Co. (NYSE:MAIN) declared a monthly dividend on Thursday, February 28th, Wall Street Journal reports. Investors of record on Thursday, April 18th will be given a dividend of 0.20 per share by the financial services provider on Wednesday, May 15th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 6.25%. The ex-dividend date is Wednesday, April 17th.
Main Street Capital has increased its dividend by an average of 3.0% annually over the last three years and has raised its dividend every year for the last 8 years. Main Street Capital has a payout ratio of 94.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Main Street Capital to earn $2.61 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 92.0%.
Main Street Capital stock opened at $38.40 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.13 and a quick ratio of 0.13. Main Street Capital has a 12-month low of $31.95 and a 12-month high of $40.77. The stock has a market capitalization of $2.38 billion, a P/E ratio of 14.71 and a beta of 0.95.
Main Street Capital (NYSE:MAIN) last released its quarterly earnings results on Thursday, February 28th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.05. Main Street Capital had a return on equity of 10.76% and a net margin of 72.08%. The business had revenue of $59.28 million during the quarter, compared to analysts’ expectations of $59.60 million. As a group, sell-side analysts predict that Main Street Capital will post 2.58 EPS for the current fiscal year.
MAIN has been the subject of a number of research analyst reports. Zacks Investment Research cut Main Street Capital from a “hold” rating to a “sell” rating in a report on Wednesday, March 13th. National Securities reaffirmed a “neutral” rating and issued a $38.00 price target on shares of Main Street Capital in a report on Monday, March 4th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $38.20.
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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