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 paid 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 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 decline. 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 Price Performance

Shares of Main Street Capital stock opened at $62.98 on Monday. 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 current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12. Main Street Capital has a 12 month low of $47.00 and a 12 month high of $67.77. The business’s 50-day moving average price is $65.14 and its 200-day moving average price is $59.81.

Main Street Capital (NYSE:MAIN) last issued its earnings results on Thursday, August 7th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, hitting 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 business had revenue of $143.97 million during the quarter, compared to analyst estimates of $137.23 million. Sell-side analysts forecast that Main Street Capital will post 4.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on MAIN. UBS Group reaffirmed a “neutral” rating and set a $58.00 target price (up previously from $56.00) on shares of Main Street Capital in a report on Wednesday, July 16th. Truist Financial raised their price target on Main Street Capital from $54.00 to $64.00 and gave the stock a “hold” rating in a research report on Monday, August 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Main Street Capital in a research report on Saturday, September 27th. Wall Street Zen upgraded shares of Main Street Capital from a “sell” rating to a “hold” rating in a report on Sunday, August 3rd. Finally, B. Riley upped their price target on shares of Main Street Capital from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Monday, August 18th. 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.