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

Main Street Capital Corporation (NYSE:MAIN) declared 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 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 decline. 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

MAIN opened at $62.98 on Monday. The company’s 50-day moving average price is $65.14 and its 200 day moving average price is $59.81. Main Street Capital has a fifty-two week low of $47.00 and a fifty-two week high of $67.77. The firm has a market cap of $5.63 billion, a price-to-earnings ratio of 10.38 and a beta of 0.87. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.12.

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

Wall Street Analyst Weigh In

MAIN has been the topic of a number of recent research reports. UBS Group reaffirmed a “neutral” rating and issued a $58.00 price objective (up from $56.00) on shares of Main Street Capital in a research note on Wednesday, July 16th. B. Riley boosted their price objective on shares of Main Street Capital from $60.00 to $64.00 and gave the stock a “neutral” rating in a research note on Monday, August 18th. Truist Financial lifted their target price on shares of Main Street Capital from $54.00 to $64.00 and gave the stock a “hold” rating in a report on Monday, August 11th. Zacks Research raised shares of Main Street Capital from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 20th. Finally, Wall Street Zen raised shares of Main Street Capital from a “sell” rating to a “hold” rating in a report on Sunday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently 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.