Main Street Capital Corporation (NYSE:MAIN) Plans $0.27 Monthly Dividend

Main Street Capital Corporation (NYSE:MAIN) announced a monthly dividend on Monday, May 4th. Investors of record on Tuesday, September 8th will be paid a dividend of 0.265 per share by the financial services provider on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend is Tuesday, September 8th.

Main Street Capital has raised its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 4 years. Main Street Capital has a dividend payout ratio of 82.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Main Street Capital to earn $3.96 per share next year, which means the company should continue to be able to cover its $3.12 annual dividend with an expected future payout ratio of 78.8%.

Main Street Capital Stock Performance

Main Street Capital stock traded up $1.58 during midday trading on Tuesday, hitting $57.34. 470,606 shares of the company’s stock were exchanged, compared to its average volume of 705,079. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.06 and a current ratio of 0.06. The stock has a market cap of $5.17 billion, a price-to-earnings ratio of 10.39 and a beta of 0.76. Main Street Capital has a 12-month low of $50.77 and a 12-month high of $67.77. The firm’s 50 day simple moving average is $55.17 and its 200 day simple moving average is $58.32.

Main Street Capital (NYSE:MAIN) last announced its earnings results on Thursday, February 26th. The financial services provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.03. Main Street Capital had a net margin of 87.11% and a return on equity of 12.44%. The business had revenue of $156.17 million during the quarter, compared to the consensus estimate of $141.50 million. Equities research analysts predict that Main Street Capital will post 4.02 EPS for the current year.

Analysts Set New Price Targets

MAIN has been the subject of a number of recent research reports. Noble Financial reaffirmed a “neutral” rating on shares of Main Street Capital in a research report on Thursday, January 15th. Citizens Jmp cut their price target on Main Street Capital from $74.00 to $70.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 22nd. Loop Capital upgraded shares of Main Street Capital to a “neutral” rating and set a $65.00 price objective on the stock in a research report on Thursday, January 15th. Citigroup reissued an “outperform” rating on shares of Main Street Capital in a research note on Tuesday, January 27th. Finally, Wall Street Zen upgraded shares of Main Street Capital from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Main Street Capital presently has a consensus rating of “Hold” and an average target price of $61.71.

About Main Street Capital

Main Street Capital Corporation (NYSE: MAIN) is a publicly traded business development company that provides flexible debt and equity capital to lower middle market companies in the United States. Headquartered in Houston, Texas, Main Street Capital was formed in 2007 and operates under the Investment Company Act of 1940. The firm’s management services are provided by Main Street Capital Management, L.P., which focuses on identifying growing private companies with enterprise values typically between $10 million and $150 million.

Main Street Capital’s primary offerings include first-lien senior secured loans, second-lien loans, subordinated debt, and equity co-investments or minority equity positions.