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

Main Street Capital Corporation (NYSE:MAIN) announced a quarterly dividend on Monday, August 4th, investing.com reports. Investors 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 is Wednesday, October 8th.

Main Street Capital has a dividend 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 decline. 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 Stock Performance

MAIN opened at $62.98 on Monday. Main Street Capital has a 52-week low of $47.00 and a 52-week high of $67.77. The firm 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. The business’s 50-day simple moving average is $65.14 and its 200 day simple moving average is $59.81.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.99 EPS for the quarter, meeting the consensus estimate of $0.99. The company had revenue of $143.97 million during the quarter, compared to the consensus estimate of $137.23 million. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%. As a group, sell-side analysts expect that Main Street Capital will post 4.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MAIN has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed 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 research report on Sunday, August 3rd. Zacks Research upgraded shares of Main Street Capital from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 20th. B. Riley upped their target price on Main Street Capital from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Monday, August 18th. Finally, Truist Financial lifted their price target on Main Street Capital from $54.00 to $64.00 and gave the stock a “hold” rating in a report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.