Main Street Capital Corporation (NYSE:MAIN) Plans Quarterly Dividend of $0.30

Main Street Capital Corporation (NYSE:MAIN) declared a quarterly dividend on Monday, August 4th, investing.com reports. Investors of record on Wednesday, October 8th will be paid a dividend of 0.30 per share by the financial services provider on Wednesday, October 15th. This represents a c) dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Wednesday, October 8th.

Main Street Capital has a dividend payout ratio of 78.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research 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 Price Performance

Shares of NYSE:MAIN opened at $62.98 on Monday. The stock has a market cap of $5.63 billion, a PE ratio of 10.38 and a beta of 0.87. The company’s fifty day moving average is $65.14 and its 200 day moving average is $59.81. Main Street Capital has a 52 week low of $47.00 and a 52 week high of $67.77. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12.

Main Street Capital (NYSE:MAIN) last issued its earnings results on Thursday, August 7th. The financial services provider reported $0.99 EPS for the quarter, hitting analysts’ consensus estimates of $0.99. The company had revenue of $143.97 million for the quarter, compared to analysts’ expectations of $137.23 million. Main Street Capital had a net margin of 96.16% and a return on equity of 12.70%. Research analysts anticipate that Main Street Capital will post 4.11 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on MAIN shares. Truist Financial lifted their target price on shares of Main Street Capital from $54.00 to $64.00 and gave the stock a “hold” rating in a research report on Monday, August 11th. Wall Street Zen raised shares of Main Street Capital from a “sell” rating to a “hold” rating in a report on Sunday, August 3rd. UBS Group reissued a “neutral” rating and issued a $58.00 price target (up previously from $56.00) on shares of Main Street Capital in a report on Wednesday, July 16th. B. Riley raised their price target on shares of Main Street Capital from $60.00 to $64.00 and gave the stock a “neutral” rating in a report on Monday, August 18th. Finally, Zacks Research raised shares of Main Street Capital from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $61.20.

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.