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

Main Street Capital Co. (NYSE:MAIN) announced a dividend on Tuesday, March 18th, investing.com reports. Shareholders of record on Friday, March 21st will be given a dividend of 0.30 per share by the financial services provider on Thursday, March 27th. This represents a yield of 7.24%. The ex-dividend date of this dividend is Thursday, March 20th. This is a 20.0% increase from Main Street Capital’s previous dividend of $0.25.

Main Street Capital has raised its dividend by an average of 8.6% per year over the last three years. Main Street Capital has a dividend payout ratio of 76.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Main Street Capital to earn $4.06 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 73.9%.

Main Street Capital Stock Up 1.5 %

MAIN stock opened at $57.13 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.08 and a quick ratio of 0.08. The firm has a market capitalization of $5.06 billion, a P/E ratio of 10.35 and a beta of 1.26. Main Street Capital has a 52-week low of $45.00 and a 52-week high of $63.32. The company’s 50 day simple moving average is $59.83 and its 200-day simple moving average is $55.24.

Main Street Capital (NYSE:MAIN) last announced its earnings results on Thursday, February 27th. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.06). Main Street Capital had a net margin of 89.25% and a return on equity of 13.83%. The firm had revenue of $140.44 million for the quarter, compared to analyst estimates of $141.40 million. As a group, equities research analysts anticipate that Main Street Capital will post 4.11 EPS for the current year.

Hedge Funds Weigh In On Main Street Capital

A hedge fund recently bought a new stake in Main Street Capital stock. Brighton Jones LLC purchased a new position in shares of Main Street Capital Co. (NYSE:MAIN) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 5,185 shares of the financial services provider’s stock, valued at approximately $304,000. 20.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Truist Financial lifted their target price on Main Street Capital from $52.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, March 3rd.

About Main Street Capital

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.