Main Street Capital Co. (NYSE:MAIN) declared a dividend on Tuesday, July 31st, NASDAQ reports. Shareholders of record on Friday, October 19th will be paid 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 increased its dividend payment by an average of 3.9% per year over the last three years and has increased its dividend every year for the last 7 years. Main Street Capital has a payout ratio of 92.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research 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%.
Shares of MAIN opened at $37.49 on Friday. Main Street Capital has a 52-week low of $34.37 and a 52-week high of $41.79. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 15.69 and a beta of 0.87.
Main Street Capital (NYSE:MAIN) last issued its quarterly earnings results on Thursday, August 2nd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.04. Main Street Capital had a return on equity of 11.81% and a net margin of 83.40%. The firm had revenue of $59.87 million for the quarter, compared to analyst estimates of $57.88 million. During the same period in the previous year, the firm earned $0.58 earnings per share. The company’s revenue was up 19.1% compared to the same quarter last year. Equities analysts predict that Main Street Capital will post 2.53 earnings per share for the current year.
Several brokerages have issued reports on MAIN. Zacks Investment Research raised Main Street Capital from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research note on Saturday, October 6th. SunTrust Banks reissued a “hold” rating and issued a $40.00 price target on shares of Main Street Capital in a research note on Friday, August 3rd. Finally, National Securities boosted their price target on Main Street Capital from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, August 8th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Main Street Capital currently has a consensus rating of “Hold” and a consensus price target of $40.25.
An institutional investor recently raised its position in Main Street Capital stock. Bank of New York Mellon Corp grew its position in shares of Main Street Capital Co. (NYSE:MAIN) by 47.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,221 shares of the financial services provider’s stock after acquiring an additional 5,855 shares during the quarter. Bank of New York Mellon Corp’s holdings in Main Street Capital were worth $693,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 23.56% of the company’s stock.
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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