Main Street Capital Corporation (NYSE:MAIN) declared a monthly dividend on Wednesday, August 2nd, Wall Street Journal reports. Stockholders of record on Thursday, September 21st will be paid a dividend of 0.19 per share by the financial services provider on Monday, October 16th. This represents a $2.28 annualized dividend and a dividend yield of 5.70%. The ex-dividend date is Wednesday, September 20th. This is an increase from Main Street Capital Corporation’s previous monthly dividend of $0.19.
Main Street Capital Corporation has raised its dividend by an average of 5.4% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. Main Street Capital Corporation has a payout ratio of 98.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Main Street Capital Corporation to earn $2.32 per share next year, which means the company should continue to be able to cover its $2.28 annual dividend with an expected future payout ratio of 98.3%.
Main Street Capital Corporation (NYSE:MAIN) opened at 40.00 on Friday. Main Street Capital Corporation has a one year low of $32.12 and a one year high of $40.86. The stock has a 50 day moving average of $39.48 and a 200 day moving average of $38.68. The firm has a market cap of $2.27 billion, a PE ratio of 13.14 and a beta of 1.03.
Main Street Capital Corporation (NYSE:MAIN) last released its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. The firm had revenue of $50.30 million during the quarter, compared to the consensus estimate of $47.82 million. Main Street Capital Corporation had a net margin of 86.36% and a return on equity of 10.24%. The firm’s revenue was up 17.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.54 earnings per share. On average, equities analysts forecast that Main Street Capital Corporation will post $2.30 earnings per share for the current year.
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A number of brokerages recently weighed in on MAIN. Zacks Investment Research upgraded shares of Main Street Capital Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, May 30th. ValuEngine upgraded shares of Main Street Capital Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub cut shares of Main Street Capital Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $40.00 price target (up from $35.00) on shares of Main Street Capital Corporation in a research report on Thursday, May 18th. Finally, National Securities reiterated a “sell” rating and issued a $33.00 price target on shares of Main Street Capital Corporation in a research report on Tuesday, August 8th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $38.98.
Main Street Capital Corporation Company Profile
Main Street Capital Corporation (MSCC) is a principal investment firm. MSCC’s principal investment objective is to maximize its portfolio’s total return by generating current income from the Company’s debt investments and capital appreciation from its equity and equity related investments, including warrants, convertible securities and other rights to acquire equity securities in a portfolio company.
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