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

Key Points

• Main Street Capital Corporation announced a quarterly dividend of $0.30 per share, payable on October 15th to investors of record on October 8th, representing an annualized yield of 1.9%.
• The company has a dividend payout ratio of 78.9%, which is currently covered by earnings; however, future earnings performance may impact its sustainability.
• Equities research analysts have set an average price target of $61.20 for the stock, with ratings ranging from "Strong Buy" to "Hold" from various firms.

Main Street Capital Corporation (NYSE:MAIN - Get Free Report) announced a quarterly dividend on Monday, August 4th, investing.com reports. Investors 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 yield of 1.9%. The ex-dividend date of this dividend 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 tumble. 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 Stock Performance

Shares of MAIN stock opened at $62.98 on Monday. The business's 50 day simple moving average is $65.14 and its 200 day simple moving average is $59.81. Main Street Capital has a one year low of $47.00 and a one year high of $67.77. The stock has a market capitalization of $5.63 billion, a PE ratio of 10.38 and a beta of 0.87. 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 - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates 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 return on equity of 12.70% and a net margin of 96.16%. As a group, research analysts forecast that Main Street Capital will post 4.11 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on MAIN. UBS Group restated a "neutral" rating and set a $58.00 price target (up from $56.00) on shares of Main Street Capital in a report on Wednesday, July 16th. B. Riley upped their target price on Main Street Capital from $60.00 to $64.00 and gave the stock a "neutral" rating in a research report on Monday, August 18th. Truist Financial upped their target price on Main Street Capital from $54.00 to $64.00 and gave the stock a "hold" rating in a research report on Monday, August 11th. Zacks Research raised Main Street Capital from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 20th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Main Street Capital in a research report on Saturday, September 27th. One research 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's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.