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

Main Street Capital Corporation (NYSE:MAIN) announced 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% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities 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 Stock Down 1.5%

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

Main Street Capital (NYSE:MAIN) last issued its earnings results on Thursday, August 7th. The financial services provider reported $0.99 earnings per share for the quarter, meeting the consensus estimate of $0.99. The firm 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%. Analysts forecast that Main Street Capital will post 4.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Wall Street Zen raised shares of Main Street Capital from a “sell” rating to a “hold” rating in a report on Sunday, August 3rd. UBS Group reaffirmed a “neutral” rating and issued a $58.00 target price (up previously from $56.00) on shares of Main Street Capital in a report on Wednesday, July 16th. Zacks Research raised shares of Main Street Capital from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 20th. Royal Bank Of Canada raised their price objective on shares of Main Street Capital from $52.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, August 28th. Finally, Truist Financial raised their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.