Main Street Capital Co. (NYSE:MAIN) declared a dividend on Tuesday, July 31st, NASDAQ reports. Shareholders of record on Friday, October 19th will be given a dividend of 0.195 per share by the financial services provider on Thursday, November 15th. The ex-dividend date of this dividend is Thursday, October 18th.
Main Street Capital has raised its dividend payment by an average of 3.9% annually over the last three years and has increased its dividend annually for the last 7 consecutive years. Main Street Capital has a payout ratio of 92.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Main Street Capital to earn $2.56 per share next year, which means the company should continue to be able to cover its $2.34 annual dividend with an expected future payout ratio of 91.4%.
MAIN stock opened at $37.49 on Friday. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 15.69 and a beta of 0.87. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.11 and a quick ratio of 0.11. Main Street Capital has a 52-week low of $34.37 and a 52-week high of $41.79.
Main Street Capital (NYSE:MAIN) last released its quarterly earnings results on Thursday, August 2nd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.04. The business had revenue of $59.87 million during the quarter, compared to the consensus estimate of $57.88 million. Main Street Capital had a return on equity of 11.81% and a net margin of 83.40%. The company’s quarterly revenue was up 19.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.58 EPS. On average, analysts forecast that Main Street Capital will post 2.53 EPS for the current year.
A hedge fund recently raised its stake in Main Street Capital stock. Bank of New York Mellon Corp increased its stake in Main Street Capital Co. (NYSE:MAIN) by 47.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,221 shares of the financial services provider’s stock after purchasing an additional 5,855 shares during the quarter. Bank of New York Mellon Corp’s holdings in Main Street Capital were worth $693,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 23.56% of the company’s stock.
A number of equities analysts have recently weighed in on the company. Zacks Investment Research downgraded Main Street Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, July 10th. National Securities boosted their target price on Main Street Capital from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 8th. Finally, SunTrust Banks restated a “hold” rating and issued a $40.00 target price on shares of Main Street Capital in a research note on Friday, August 3rd. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $40.25.
About Main Street Capital
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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