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 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 dividend yield of 1.9%. The ex-dividend date is Wednesday, October 8th.

Main Street Capital has a 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 fall. 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 Trading Down 1.5%

Shares of NYSE:MAIN opened at $62.98 on Monday. Main Street Capital has a 12-month low of $47.00 and a 12-month high of $67.77. The business’s fifty day simple moving average is $65.14 and its 200-day simple moving average is $59.81. The company has a market capitalization of $5.63 billion, a PE 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.

Main Street Capital (NYSE:MAIN) last announced 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 return on equity of 12.70% and a net margin of 96.16%.The business had revenue of $143.97 million for the quarter, compared to the consensus estimate of $137.23 million. As a group, equities research analysts predict that Main Street Capital will post 4.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MAIN has been the topic of several recent analyst reports. Truist Financial upped their target price on Main Street Capital from $54.00 to $64.00 and gave the company a “hold” rating in a research report on Monday, August 11th. B. Riley increased their price objective on shares of Main Street Capital from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Monday, August 18th. Weiss Ratings reissued a “buy (b)” rating on shares of Main Street Capital in a research report on Saturday, September 27th. Wall Street Zen raised shares of Main Street Capital from a “sell” rating to a “hold” rating in a report on Sunday, August 3rd. Finally, UBS Group reissued a “neutral” rating and set a $58.00 price objective (up from $56.00) on shares of Main Street Capital in a report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Main Street Capital currently has an average rating of “Moderate Buy” and a consensus target price of $61.20.

About Main Street Capital

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.