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

Main Street Capital Corporation (NYSE:MAIN) declared a quarterly dividend on Monday, August 4th, investing.com reports. Shareholders 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 yield of 1.9%. The ex-dividend date is Wednesday, October 8th.

Main Street Capital has a 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 tumble. 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

Shares of NYSE:MAIN opened at $62.98 on Monday. The company has a market capitalization of $5.63 billion, a price-to-earnings ratio of 10.38 and a beta of 0.87. The firm’s 50 day simple moving average is $65.14 and its 200 day simple moving average is $59.81. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. Main Street Capital has a fifty-two week low of $47.00 and a fifty-two week high of $67.77.

Main Street Capital (NYSE:MAIN) last posted its earnings results on Thursday, August 7th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, hitting 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 during the quarter, compared to analysts’ expectations of $137.23 million. As a group, sell-side analysts forecast that Main Street Capital will post 4.11 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on MAIN. Royal Bank Of Canada boosted their price target on Main Street Capital from $52.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, August 28th. Zacks Research upgraded Main Street Capital from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Main Street Capital in a report on Saturday, September 27th. 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 report on Monday, August 11th. Finally, Wall Street Zen upgraded Main Street Capital from a “sell” rating to a “hold” rating in a report on Sunday, August 3rd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.