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

Main Street Capital Corporation (NYSE:MAIN) announced 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 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 fall. 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 MAIN opened at $62.98 on Monday. The company has a 50 day moving average price of $65.14 and a 200-day moving average price of $59.81. Main Street Capital has a fifty-two week low of $47.00 and a fifty-two week high of $67.77. The stock has a market capitalization of $5.63 billion, a PE ratio of 10.38 and a beta of 0.87. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09.

Main Street Capital (NYSE:MAIN) last issued its quarterly 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. Main Street Capital had a net margin of 96.16% and a return on equity of 12.70%. The business had revenue of $143.97 million for the quarter, compared to analyst estimates of $137.23 million. Equities analysts predict that Main Street Capital will post 4.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MAIN has been the subject of several recent analyst reports. Royal Bank Of Canada boosted their price objective on shares of Main Street Capital from $52.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, August 28th. UBS Group restated 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. Weiss Ratings reissued a “buy (b)” rating on shares of Main Street Capital in a research report on Saturday, September 27th. Truist Financial lifted their price objective on shares of Main Street Capital from $54.00 to $64.00 and gave the stock a “hold” rating in a report on Monday, August 11th. 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 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. According to data from MarketBeat.com, the stock currently has an average 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.