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

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 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. 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 Street Capital stock opened at $62.98 on Monday. The firm’s fifty 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 price-to-earnings 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. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.09 and a quick ratio of 0.09.

Main Street Capital (NYSE:MAIN) last announced its earnings results on Thursday, August 7th. The financial services provider reported $0.99 EPS for the quarter, meeting analysts’ consensus estimates of $0.99. The business 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%. As a group, equities analysts forecast that Main Street Capital will post 4.11 earnings per share for the current year.

Analysts Set New Price Targets

MAIN has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Main Street Capital from a “sell” rating to a “hold” rating in a research report on Sunday, August 3rd. UBS Group reaffirmed a “neutral” rating and issued 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 objective on Main Street Capital from $52.00 to $67.00 and gave the stock an “outperform” rating in a research note on Thursday, August 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of Main Street Capital in a research report on Saturday, September 27th. Finally, B. Riley lifted their target price on Main Street Capital from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Monday, August 18th. One 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 company’s stock. Based on data from MarketBeat.com, Main Street Capital 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.