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

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) 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 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 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

Shares of NYSE MAIN opened at $62.98 on Monday. Main Street Capital has a twelve month low of $47.00 and a twelve month high of $67.77. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.12. The stock has a 50 day moving average of $65.14 and a two-hundred day moving average of $59.81. The stock has a market cap of $5.63 billion, a P/E ratio of 10.38 and a beta of 0.87.

Main Street Capital (NYSE:MAIN) last released its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.99 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 analysts’ expectations of $137.23 million. On average, research analysts forecast that Main Street Capital will post 4.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on MAIN shares. Truist Financial increased their price objective 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. Royal Bank Of Canada raised their target price on Main Street Capital from $52.00 to $67.00 and gave the company an “outperform” rating in a report on Thursday, August 28th. B. Riley lifted their target price on Main Street Capital from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Monday, August 18th. Zacks Research upgraded Main Street Capital from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 20th. Finally, Wall Street Zen raised Main Street Capital from a “sell” rating to a “hold” rating in a research note on Sunday, August 3rd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.