Main Street Capital Co. to Issue Dividend of $0.30 (NYSE:MAIN)

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

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 payout ratio of 73.5% meaning its dividend is sufficiently covered by earnings. 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 Trading Up 0.7 %

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

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, meeting the consensus estimate of $1.01. Main Street Capital had a return on equity of 14.41% and a net margin of 87.58%. The company had revenue of $132.15 million during the quarter, compared to the consensus estimate of $132.62 million. During the same period last year, the business posted $1.06 EPS. Research analysts predict that Main Street Capital will post 4.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MAIN has been the subject of several analyst reports. Oppenheimer raised their price target on shares of Main Street Capital from $43.00 to $44.00 and gave the company a “market perform” rating in a research report on Tuesday, August 13th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $52.00 target price on shares of Main Street Capital in a report on Wednesday, August 14th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus 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.