Main Street Capital Co. (NYSE:MAIN) declared a monthly dividend on Thursday, November 1st, Wall Street Journal reports. Stockholders of record on Monday, December 31st will be given a dividend of 0.195 per share by the financial services provider on Tuesday, January 15th. This represents a $2.34 annualized dividend and a dividend yield of 6.25%. The ex-dividend date of this dividend is Friday, December 28th.
Main Street Capital has raised its dividend payment by an average of 3.9% per year over the last three years and has raised its dividend annually for the last 7 consecutive 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 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 opened at $37.45 on Friday. The stock has a market capitalization of $2.23 billion, a PE ratio of 15.67 and a beta of 0.87. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.21. Main Street Capital has a 12 month low of $34.37 and a 12 month high of $41.79.
Main Street Capital (NYSE:MAIN) last released its quarterly earnings data on Thursday, November 1st. The financial services provider reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.01. The firm had revenue of $58.26 million for the quarter, compared to the consensus estimate of $59.19 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 12.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.60 earnings per share. On average, analysts predict that Main Street Capital will post 2.53 earnings per share for the current year.
Several research firms have recently commented on MAIN. National Securities lifted their price objective on Main Street Capital from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, August 8th. SunTrust Banks reiterated a “hold” rating and issued a $40.00 price objective on shares of Main Street Capital in a report on Friday, August 3rd. Finally, Zacks Investment Research downgraded Main Street Capital from a “hold” rating to a “sell” rating in a report on Tuesday, July 10th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Main Street Capital presently has a consensus rating of “Hold” and an average price target of $40.25.
A hedge fund recently raised its stake in Main Street Capital stock. Bank of New York Mellon Corp boosted its holdings in shares of Main Street Capital Co. (NYSE:MAIN) by 47.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,221 shares of the financial services provider’s stock after purchasing an additional 5,855 shares during the period. Bank of New York Mellon Corp’s holdings in Main Street Capital were worth $693,000 at the end of the most recent reporting period. 23.93% of the stock is currently owned by hedge funds and other institutional investors.
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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