Main Street Capital Corporation (MAIN) to Distribute Quarterly Dividend of $0.30 on July 15th

Main Street Capital Corporation (NYSE:MAIN) announced a quarterly dividend on Monday, May 4th. Stockholders of record on Wednesday, July 8th will be paid a dividend of 0.30 per share by the financial services provider on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Wednesday, July 8th.

Main Street Capital has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 4 years. Main Street Capital has a payout ratio of 83.7% 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 $3.83 per share next year, which means the company should continue to be able to cover its $3.18 annual dividend with an expected future payout ratio of 83.0%.

Main Street Capital Stock Up 0.1%

MAIN opened at $52.02 on Monday. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.11. The firm has a 50 day moving average price of $52.00 and a 200-day moving average price of $56.24. Main Street Capital has a twelve month low of $48.95 and a twelve month high of $67.77. The stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of 10.95 and a beta of 0.72.

Main Street Capital (NYSE:MAIN) last issued its earnings results on Thursday, May 7th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.11). The company had revenue of $73.44 million during the quarter, compared to analysts’ expectations of $145.23 million. Main Street Capital had a return on equity of 12.01% and a net margin of 74.86%. Equities research analysts forecast that Main Street Capital will post 3.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on MAIN shares. Zacks Research downgraded Main Street Capital from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 28th. Truist Financial lowered their target price on Main Street Capital from $60.00 to $53.00 and set a “hold” rating on the stock in a report on Tuesday, May 19th. Wall Street Zen cut Main Street Capital from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Royal Bank Of Canada cut their price target on Main Street Capital from $66.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, May 14th. Finally, Weiss Ratings lowered shares of Main Street Capital from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, May 22nd. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Main Street Capital currently has a consensus rating of “Hold” and an average target price of $59.14.

Main Street Capital Company Profile

Main Street Capital Corporation (NYSE: MAIN) is a publicly traded business development company that provides flexible debt and equity capital to lower middle market companies in the United States. Headquartered in Houston, Texas, Main Street Capital was formed in 2007 and operates under the Investment Company Act of 1940. The firm’s management services are provided by Main Street Capital Management, L.P., which focuses on identifying growing private companies with enterprise values typically between $10 million and $150 million.

Main Street Capital’s primary offerings include first-lien senior secured loans, second-lien loans, subordinated debt, and equity co-investments or minority equity positions.