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

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) annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend 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. 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%

NYSE MAIN opened at $62.98 on Monday. Main Street Capital has a fifty-two week low of $47.00 and a fifty-two week high of $67.77. 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 stock has a 50 day simple moving average of $65.14 and a two-hundred day simple moving average of $59.81. The stock has a market cap of $5.63 billion, a P/E ratio of 10.38 and a beta of 0.87.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.99 earnings per share for the quarter, hitting the consensus estimate of $0.99. The business had revenue of $143.97 million during the quarter, compared to analysts’ expectations of $137.23 million. Main Street Capital had a return on equity of 12.70% and a net margin of 96.16%. On average, analysts forecast that Main Street Capital will post 4.11 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. UBS Group restated a “neutral” rating and issued a $58.00 target price (up previously from $56.00) on shares of Main Street Capital in a research note on Wednesday, July 16th. B. Riley raised their target price on Main Street Capital from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Monday, August 18th. Zacks Research upgraded Main Street Capital from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 20th. Royal Bank Of Canada raised their price objective on Main Street Capital from $52.00 to $67.00 and gave the company an “outperform” rating in a research report on Thursday, August 28th. Finally, Wall Street Zen raised Main Street Capital from a “sell” rating to a “hold” rating in a research report on Sunday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock presently 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.