Main Street Capital Co. (NYSE:MAIN) Declares $0.30 Dividend

Main Street Capital Co. (NYSE:MAIN) declared a dividend on Wednesday, June 19th, investing.com reports. Shareholders of record on Monday, June 24th will be paid a dividend of 0.30 per share by the financial services provider on Thursday, June 27th. This represents a dividend yield of 7.55%. The ex-dividend date is Friday, June 21st.

Main Street Capital has raised its dividend by an average of 18.7% annually over the last three years. Main Street Capital has a dividend payout ratio of 74.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Main Street Capital to earn $3.93 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 74.8%.

Main Street Capital Price Performance

Shares of NYSE:MAIN traded up $0.19 during trading on Wednesday, reaching $49.75. The stock had a trading volume of 344,710 shares, compared to its average volume of 345,870. The business has a fifty day moving average price of $48.91 and a 200-day moving average price of $46.24. Main Street Capital has a 1-year low of $37.70 and a 1-year high of $51.10. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.10 and a current ratio of 0.10. The stock has a market cap of $4.26 billion, a PE ratio of 9.08 and a beta of 1.28.

Main Street Capital (NYSE:MAIN) last announced its earnings results on Thursday, May 9th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.02. The company had revenue of $131.61 million for the quarter, compared to analysts’ expectations of $128.00 million. Main Street Capital had a net margin of 89.11% and a return on equity of 14.83%. During the same quarter in the previous year, the company posted $1.02 EPS. On average, equities analysts forecast that Main Street Capital will post 4.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on MAIN. Royal Bank of Canada increased their price objective on shares of Main Street Capital from $48.00 to $52.00 and gave the company an “outperform” rating in a report on Tuesday, April 30th. Truist Financial increased their price target on Main Street Capital from $45.00 to $52.00 and gave the company a “hold” rating in a report on Monday, May 13th. Oppenheimer boosted their price objective on Main Street Capital from $41.00 to $43.00 and gave the stock a “market perform” rating in a research note on Monday, February 26th. UBS Group raised their target price on Main Street Capital from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Finally, B. Riley lifted their price target on Main Street Capital from $47.00 to $49.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Main Street Capital has an average rating of “Hold” and an average target price of $47.67.

Main Street Capital Company Profile

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.