Main Street Capital Co. (NYSE:MAIN) declared a dividend on Monday, November 4th, Fidelity reports. Investors of record on Wednesday, January 22nd will be paid a dividend of 0.205 per share by the financial services provider on Friday, February 14th. The ex-dividend date of this dividend is Tuesday, January 21st.
Main Street Capital has decreased its dividend by an average of 4.1% annually over the last three years and has raised its dividend every year for the last 9 years. Main Street Capital has a dividend payout ratio of 99.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Main Street Capital to earn $2.48 per share next year, which means the company should continue to be able to cover its $2.46 annual dividend with an expected future payout ratio of 99.2%.
Shares of Main Street Capital stock opened at $44.62 on Monday. Main Street Capital has a 52-week low of $36.29 and a 52-week high of $45.00. The company has a 50 day moving average of $43.40 and a 200 day moving average of $42.81. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $2.83 billion, a P/E ratio of 22.54 and a beta of 0.76.
Main Street Capital (NYSE:MAIN) last issued its quarterly earnings results on Thursday, November 7th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.01). Main Street Capital had a return on equity of 10.59% and a net margin of 50.85%. The firm had revenue of $60.07 million during the quarter, compared to analysts’ expectations of $61.26 million. During the same quarter in the prior year, the firm earned $0.63 EPS. The firm’s revenue was up 3.1% compared to the same quarter last year. As a group, research analysts anticipate that Main Street Capital will post 2.49 earnings per share for the current fiscal year.
A number of brokerages recently issued reports on MAIN. Zacks Investment Research upgraded shares of Main Street Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, January 14th. Raymond James downgraded shares of Main Street Capital from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 22nd. They noted that the move was a valuation call. National Securities assumed coverage on shares of Main Street Capital in a research note on Monday, September 23rd. They issued a “neutral” rating and a $40.00 price target for the company. Finally, Royal Bank of Canada assumed coverage on shares of Main Street Capital in a research report on Tuesday, November 12th. They set an “outperform” rating and a $44.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $43.50.
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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