Main Street Capital Corporation (NYSE:MAIN) Announces $0.26 Monthly Dividend

Main Street Capital Corporation (NYSE:MAIN) announced a monthly dividend on Monday, November 3rd. Shareholders of record on Friday, March 6th will be paid a dividend of 0.26 per share by the financial services provider on Friday, March 13th. This represents a c) annualized dividend and a yield of 5.5%. The ex-dividend date is Friday, March 6th.

Main Street Capital has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Main Street Capital has a dividend payout ratio of 80.5% indicating that 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 $3.06 annual dividend with an expected future payout ratio of 75.4%.

Main Street Capital Trading Down 1.4%

Shares of NYSE MAIN traded down $0.79 during mid-day trading on Wednesday, reaching $56.38. 119,683 shares of the company’s stock were exchanged, compared to its average volume of 560,099. The firm has a market capitalization of $5.04 billion, a price-to-earnings ratio of 9.29 and a beta of 0.84. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.09 and a current ratio of 0.09. Main Street Capital has a 52-week low of $47.00 and a 52-week high of $67.77. The company’s 50-day moving average is $62.00 and its 200-day moving average is $60.41.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.99 earnings per share for the quarter, hitting analysts’ consensus estimates 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%. Analysts expect that Main Street Capital will post 4.11 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on MAIN. UBS Group reissued a “neutral” rating and set a $58.00 target price (up previously from $56.00) on shares of Main Street Capital in a research note on Wednesday, July 16th. Zacks Research lowered Main Street Capital from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. B. Riley increased their target price on Main Street Capital from $60.00 to $64.00 and gave the stock a “neutral” rating in a research note on Monday, August 18th. Wall Street Zen upgraded Main Street Capital from a “sell” rating to a “hold” rating in a research note on Sunday, August 3rd. Finally, Weiss Ratings reiterated a “buy (b+)” rating on shares of Main Street Capital in a research note on Tuesday, October 14th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $60.40.

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.