Main Street Capital Corporation (MAIN) to Distribute Monthly Dividend of $0.27 on December 15th

Main Street Capital Corporation (NYSE:MAIN) announced a monthly dividend on Monday, August 3rd. Shareholders of record on Tuesday, December 8th will be given a dividend of 0.265 per share by the financial services provider on Tuesday, December 15th. This represents a c) annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend is Tuesday, December 8th.

Main Street Capital has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Main Street Capital has a payout ratio of 83.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Main Street Capital to earn $3.87 per share next year, which means the company should continue to be able to cover its $3.18 annual dividend with an expected future payout ratio of 82.2%.

Main Street Capital Stock Performance

MAIN opened at $57.14 on Wednesday. Main Street Capital has a 52-week low of $48.95 and a 52-week high of $67.77. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.06 and a current ratio of 0.06. The stock has a 50-day moving average of $52.41 and a 200-day moving average of $55.17. The company has a market cap of $5.31 billion, a PE ratio of 12.03 and a beta of 0.71.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings data on Thursday, May 7th. The financial services provider reported $0.93 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.11). Main Street Capital had a net margin of 74.86% and a return on equity of 12.01%. The business had revenue of $73.44 million during the quarter, compared to the consensus estimate of $145.23 million. As a group, equities research analysts forecast that Main Street Capital will post 3.79 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Royal Bank Of Canada lowered their price objective on Main Street Capital from $66.00 to $58.00 and set an “outperform” rating on the stock in a research note on Thursday, May 14th. Truist Financial decreased their price target on Main Street Capital from $60.00 to $53.00 and set a “hold” rating on the stock in a research note on Tuesday, May 19th. Citizens Jmp cut their target price on shares of 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. Zacks Research upgraded shares of Main Street Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. Finally, Wells Fargo & Company began coverage on shares of Main Street Capital in a research report on Friday, May 22nd. They set an “equal weight” rating and a $50.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $59.33.

Main Street Capital Company Profile

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.