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

Main Street Capital Corporation (NYSE:MAIN) announced 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 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. 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 Stock Performance

Shares of MAIN opened at $62.98 on Monday. 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 one year low of $47.00 and a one year high of $67.77. The firm has a market capitalization of $5.63 billion, a P/E ratio of 10.38 and a beta of 0.87. The business has a fifty day moving average of $65.14 and a 200 day moving average of $59.81.

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

Analysts Set New Price Targets

MAIN has been the topic of several research analyst reports. B. Riley boosted their price objective 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. Wall Street Zen raised Main Street Capital from a “sell” rating to a “hold” rating in a research note on Sunday, August 3rd. 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 research note on Wednesday, July 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Main Street Capital in a research note on Saturday, September 27th. Finally, Royal Bank Of Canada boosted their price objective on Main Street Capital from $52.00 to $67.00 and gave the stock an “outperform” rating in a research note on Thursday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus 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.