Main Street Capital Corporation (NYSE:MAIN) to Issue $0.30 Quarterly Dividend

Main Street Capital Corporation (NYSE:MAIN) declared a quarterly dividend on Monday, August 4th, investing.com reports. Stockholders of record on Wednesday, October 8th will be given 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 dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, October 8th.

Main Street Capital has a dividend payout ratio of 78.9% meaning 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 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 Trading Down 1.5%

NYSE:MAIN opened at $62.98 on Monday. The firm has a market cap of $5.63 billion, a P/E ratio of 10.38 and a beta of 0.87. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12. The stock’s 50 day simple moving average is $65.14 and its 200-day simple moving average is $59.81. Main Street Capital has a 12-month low of $47.00 and a 12-month high of $67.77.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MAIN. Truist Financial upped their price objective on Main Street Capital from $54.00 to $64.00 and gave the stock a “hold” rating in a report on Monday, August 11th. Royal Bank Of Canada upped their price objective on Main Street Capital from $52.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, August 28th. UBS Group reaffirmed a “neutral” rating and set a $58.00 price objective (up previously from $56.00) on shares of Main Street Capital in a report on Wednesday, July 16th. Wall Street Zen raised Main Street Capital from a “sell” rating to a “hold” rating in a report on Sunday, August 3rd. Finally, Zacks Research raised Main Street Capital from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Main Street Capital currently has a consensus rating of “Moderate Buy” and a consensus price target 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.