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

Main Street Capital Co. (NYSE:MAIN) announced a monthly dividend on Monday, August 5th, NASDAQ reports. Investors of record on Tuesday, October 8th will be paid a dividend of 0.30 per share by the financial services provider on Tuesday, October 15th. This represents a $3.60 dividend on an annualized basis and a yield of 7.06%. The ex-dividend date of this dividend is Tuesday, October 8th.

Main Street Capital has raised its dividend payment by an average of 18.7% annually over the last three years. Main Street Capital has a dividend payout ratio of 74.4% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Up 0.8 %

MAIN stock opened at $51.02 on Monday. The company has a market capitalization of $4.37 billion, a P/E ratio of 9.31 and a beta of 1.30. Main Street Capital has a 12 month low of $37.70 and a 12 month high of $52.39. The firm’s fifty day simple moving average is $49.57 and its 200-day simple moving average is $49.30. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.07 and a quick ratio of 0.07.

Main Street Capital (NYSE:MAIN) last issued its earnings results on Thursday, August 8th. The financial services provider reported $1.01 EPS for the quarter, hitting analysts’ consensus estimates of $1.01. The firm had revenue of $132.15 million for the quarter, compared to the consensus estimate of $132.62 million. Main Street Capital had a return on equity of 14.06% and a net margin of 87.58%. During the same quarter in the prior year, the business earned $1.06 earnings per share. As a group, equities research analysts forecast that Main Street Capital will post 4.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MAIN shares. Oppenheimer lifted their target price on shares of Main Street Capital from $43.00 to $44.00 and gave the company a “market perform” rating in a 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 research report on Wednesday, August 14th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Main Street Capital has an average rating of “Hold” and an average price target 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.