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

Key Points

• Main Street Capital Corporation announced a dividend of $0.30 per share, with a yield of 638.0%, to be distributed on September 26th to stockholders of record by September 22nd.
• The company has a payout ratio of 78.9%, indicating its current ability to cover the dividend with earnings, though future earnings fluctuations may impact this.
• Recent analyst ratings show mixed opinions, with upgrades from various institutions leading to a consensus rating of "Moderate Buy" and an average target price of $61.20 for the stock.

Main Street Capital Corporation (NYSE:MAIN - Get Free Report) 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) annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend 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 Trading Down 0.4%

Shares of MAIN traded down $0.29 during trading hours on Friday, hitting $65.85. 1,944,787 shares of the stock were exchanged, compared to its average volume of 495,497. Main Street Capital has a fifty-two week low of $47.00 and a fifty-two week 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. The business has a 50-day moving average of $65.35 and a 200-day moving average of $59.32. The firm has a market capitalization of $5.89 billion, a P/E ratio of 10.85 and a beta of 0.88.

Main Street Capital (NYSE:MAIN - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.99 EPS for the quarter, hitting analysts' consensus estimates of $0.99. Main Street Capital had a net margin of 96.16% and a return on equity of 12.70%. The business had revenue of $143.97 million during the quarter, compared to analysts' expectations of $137.23 million. On average, research analysts expect that Main Street Capital will post 4.11 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Main Street Capital from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 20th. Truist Financial lifted their price objective on shares of Main Street Capital from $54.00 to $64.00 and gave the company a "hold" rating in a report on Monday, August 11th. Royal Bank Of Canada lifted their price objective 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. Wall Street Zen upgraded shares of Main Street Capital from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. Finally, B. Riley raised their price target on shares of Main Street Capital from $60.00 to $64.00 and gave the company a "neutral" rating in a research report on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average 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.