Main Street Capital Corporation (MAIN) To Go Ex-Dividend on December 18th

Main Street Capital Corporation (NYSE:MAIN) declared a quarterly dividend on Monday, November 2nd. Shareholders of record on Friday, December 18th will be given a dividend of $0.30 per share by the financial services provider on Monday, December 28th. This represents a $1.20 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, December 18th.

Main Street Capital has increased its dividend payment by an average of 0.1% per year over the last three years and has raised its dividend every year for the last 4 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 tumble. Equities analysts expect Main Street Capital to earn $3.81 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 83.5%.

Main Street Capital Stock Performance

Shares of MAIN stock opened at $56.39 on Wednesday. The company’s fifty day simple moving average is $55.61 and its 200-day simple moving average is $55.51. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.11. Main Street Capital has a 12 month low of $48.95 and a 12 month high of $65.23. The firm has a market cap of $5.27 billion, a PE ratio of 14.22 and a beta of 0.73.

Main Street Capital (NYSE:MAIN) last announced its quarterly earnings data on Thursday, August 6th. The financial services provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.01. The company had revenue of $327.56 million during the quarter, compared to analysts’ expectations of $144.59 million. Main Street Capital had a return on equity of 11.80% and a net margin of 78.49%. Equities research analysts expect that Main Street Capital will post 3.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Zacks Research raised Main Street Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. UBS Group cut their price objective on shares of Main Street Capital from $62.00 to $57.00 and set a “neutral” rating for the company in a research report on Friday, October 9th. Wells Fargo & Company raised Main Street Capital from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $55.00 to $60.00 in a report on Tuesday, September 29th. Wall Street Zen downgraded shares of Main Street Capital from a “hold” rating to a “sell” rating in a research note on Sunday, October 11th. Finally, Weiss Ratings upgraded shares of Main Street Capital from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, September 3rd. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $61.00.

About Main Street Capital

Main Street Capital Corporation is a business development company that provides customized debt and equity financing to privately held businesses. The company primarily invests in lower middle-market companies and also makes private loan investments in larger middle-market businesses.

Its investment activities include first-lien, second-lien and subordinated debt, as well as equity investments and other securities. Main Street seeks to provide flexible, long-term capital to support acquisitions, recapitalizations, growth initiatives and other corporate financing needs.