Main Street Capital Co. (NYSE:MAIN) Announces $0.30 Dividend

Main Street Capital Co. (NYSE:MAIN) declared a dividend on Wednesday, September 18th, investing.com reports. Investors of record on Monday, September 23rd will be given a dividend of 0.30 per share by the financial services provider on Friday, September 27th. This represents a yield of 7.66%. The ex-dividend date of this dividend is Friday, September 20th.

Main Street Capital has raised its dividend payment by an average of 18.7% per year over the last three years. Main Street Capital has a payout ratio of 73.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Main Street Capital to earn $3.98 per share next year, which means the company should continue to be able to cover its $2.94 annual dividend with an expected future payout ratio of 73.9%.

Main Street Capital Price Performance

Shares of MAIN traded up $0.33 during midday trading on Wednesday, reaching $50.17. The stock had a trading volume of 346,909 shares, compared to its average volume of 365,670. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $4.30 billion, a price-to-earnings ratio of 9.16 and a beta of 1.30. The company’s 50-day moving average is $49.78 and its 200 day moving average is $48.92. Main Street Capital has a 12-month low of $37.70 and a 12-month high of $52.39.

Main Street Capital (NYSE:MAIN) last issued its earnings results on Thursday, August 8th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.01. The business had revenue of $132.15 million during the quarter, compared to analyst estimates of $132.62 million. Main Street Capital had a return on equity of 14.41% and a net margin of 87.58%. During the same quarter in the prior year, the firm earned $1.06 earnings per share. On average, equities analysts predict that Main Street Capital will post 4.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Oppenheimer lifted their target price on shares of Main Street Capital from $43.00 to $44.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $52.00 price objective on shares of Main Street Capital in a report on Wednesday, August 14th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $48.40.

About Main Street Capital

Main Street Capital Corporation is a business development company specializes in equity capital to lower middle market companies. The firm specializing in recapitalizations, management buyouts, refinancing, family estate planning, management buyouts, refinancing, industry consolidation, mature, later stage emerging growth.