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

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) annualized dividend and a yield of 1.9%. The ex-dividend date is Wednesday, October 8th.

Main Street Capital has a 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. 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 firm has a market capitalization of $5.63 billion, a P/E ratio of 10.38 and a beta of 0.87. The stock has a fifty day moving average of $65.14 and a 200-day moving average of $59.81. 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 has a 12-month low of $47.00 and a 12-month high of $67.77.

Main Street Capital (NYSE:MAIN) last announced its quarterly earnings data on Thursday, August 7th. The financial services provider reported $0.99 earnings per share (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 firm had revenue of $143.97 million during the quarter, compared to the consensus estimate of $137.23 million. Equities analysts forecast that Main Street Capital will post 4.11 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. UBS Group reissued a “neutral” rating and set a $58.00 price objective (up previously from $56.00) on shares of Main Street Capital in a research report on Wednesday, July 16th. Royal Bank Of Canada raised their price target on shares of 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 increased their target price on shares of Main Street Capital from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Monday, August 18th. Truist Financial boosted their price target on Main Street Capital from $54.00 to $64.00 and gave the stock a “hold” rating in a research report on Monday, August 11th. 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 equities research 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.