Main Street Capital Corporation (MAIN) to Issue Monthly Dividend of $0.27 on November 13th

Main Street Capital Corporation (NYSE:MAIN) declared a monthly dividend on Monday, August 3rd. Investors of record on Friday, November 6th will be given a dividend of 0.265 per share by the financial services provider on Friday, November 13th. This represents a c) dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend is Friday, November 6th.

Main Street Capital has raised 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 dividend payout ratio of 83.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research 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 Up 2.5%

Shares of MAIN stock opened at $57.14 on Wednesday. The firm’s fifty day moving average price is $52.41 and its two-hundred day moving average price is $55.17. Main Street Capital has a 1 year low of $48.95 and a 1 year high of $67.77. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $5.31 billion, a P/E ratio of 12.03 and a beta of 0.71.

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

Wall Street Analyst Weigh In

Several research firms have issued reports on MAIN. Royal Bank Of Canada dropped 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. Wells Fargo & Company started coverage on Main Street Capital in a research note on Friday, May 22nd. They issued an “equal weight” rating and a $50.00 price target for the company. Citizens Jmp lowered their price objective on Main Street Capital from $74.00 to $70.00 and set a “market outperform” rating on the stock in a research report on Wednesday, April 22nd. Truist Financial decreased their price target on shares of 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. Finally, Zacks Research raised Main Street Capital from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. Four equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.