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

Main Street Capital Corporation (NYSE:MAIN) declared a quarterly dividend on Monday, August 4th, investing.com reports. Stockholders 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 dividend yield of 1.9%. The ex-dividend date is Wednesday, October 8th.

Main Street Capital has a dividend payout ratio of 78.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities 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%

Shares of MAIN opened at $62.98 on Monday. Main Street Capital has a 1-year low of $47.00 and a 1-year high of $67.77. The company has a market capitalization of $5.63 billion, a P/E ratio of 10.38 and a beta of 0.87. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09. The firm’s 50 day simple moving average is $65.14 and its 200 day simple moving average is $59.81.

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

Analysts Set New Price Targets

A number of brokerages have commented on MAIN. Weiss Ratings reiterated a “buy (b)” rating on shares of Main Street Capital in a research report on Saturday, September 27th. UBS Group reissued a “neutral” rating and issued a $58.00 price target (up from $56.00) on shares of Main Street Capital in a research note on Wednesday, July 16th. 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 note on Thursday, August 28th. Truist Financial boosted their target price on Main Street Capital from $54.00 to $64.00 and gave the company a “hold” rating in a research note on Monday, August 11th. Finally, Wall Street Zen upgraded Main Street Capital from a “sell” rating to a “hold” rating in a research report on Sunday, August 3rd. One investment 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $61.20.

Main Street Capital Company Profile

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.