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

Key Points

• Main Street Capital Corporation has declared a quarterly dividend of $0.30 per share, with a dividend yield of 1.9%, payable on October 15th to stockholders of record on October 8th.
• The company reported earnings per share of $0.99 for the last quarter, meeting analysts' expectations, and anticipates a future payout ratio of 73.9% based on projected earnings of $4.06 per share for the upcoming year.
• Brokerages have adjusted their price targets for Main Street Capital, with recommendations ranging from "hold" to "strong buy," indicating a consensus rating of "Moderate Buy" and an average target price of $61.20.

Main Street Capital Corporation (NYSE:MAIN - Get Free Report) declared 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 1.9%. The ex-dividend date is Wednesday, October 8th.

Main Street Capital has a dividend 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. Equities 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 Price Performance

Main Street Capital stock opened at $62.98 on Monday. The company's fifty day moving average price is $65.14 and its 200 day moving average price is $59.81. Main Street Capital has a 1 year low of $47.00 and a 1 year high of $67.77. The stock has a market capitalization of $5.63 billion, a P/E ratio of 10.38 and a beta of 0.87. 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 - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, meeting 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 firm had revenue of $143.97 million for the quarter, compared to analysts' expectations of $137.23 million. As a group, equities research analysts anticipate that Main Street Capital will post 4.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on MAIN. Truist Financial lifted their target price on shares of Main Street Capital from $54.00 to $64.00 and gave the stock a "hold" rating in a research note on Monday, August 11th. Zacks Research raised shares of Main Street Capital from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 20th. Royal Bank Of Canada lifted their price target on Main Street Capital from $52.00 to $67.00 and gave the stock an "outperform" rating in a report on Thursday, August 28th. B. Riley lifted their price target on Main Street Capital from $60.00 to $64.00 and gave the stock a "neutral" rating in a report on Monday, August 18th. Finally, UBS Group reiterated a "neutral" rating and set a $58.00 price target (up previously from $56.00) on shares of Main Street Capital in a report on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus 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.

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