Main Street Capital Corporation (NYSE:MAIN) Declares 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 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 dividend yield of 1.9%. The ex-dividend date 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 tumble. 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 Stock Performance

Shares of MAIN stock opened at $62.98 on Monday. The company’s fifty day moving average price is $65.14 and its two-hundred day moving average price is $59.81. 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 has a market capitalization of $5.63 billion, a P/E ratio of 10.38 and a beta of 0.87. 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 released its earnings results on Thursday, August 7th. The financial services provider reported $0.99 earnings per share for the quarter, hitting the consensus estimate of $0.99. The company had revenue of $143.97 million during the quarter, compared to the consensus estimate of $137.23 million. Main Street Capital had a net margin of 96.16% and a return on equity of 12.70%. On average, research analysts anticipate that Main Street Capital will post 4.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MAIN has been the topic of several research reports. Truist Financial upped their price target on Main Street Capital from $54.00 to $64.00 and gave the company a “hold” rating in a research report on Monday, August 11th. UBS Group reaffirmed 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. B. Riley increased 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. Wall Street Zen upgraded Main Street Capital from a “sell” rating to a “hold” rating in a research note on Sunday, August 3rd. Finally, Zacks Research upgraded Main Street Capital from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average 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.