Main Street Capital Corporation (NYSE:MAIN) Plans Monthly Dividend of $0.27

Main Street Capital Corporation (NYSE:MAIN) declared a monthly dividend on Tuesday, November 3rd. Shareholders of record on Monday, March 8th will be given a dividend of $0.27 per share by the financial services provider on Monday, March 15th. This represents a $3.24 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date is Monday, March 8th.

Main Street Capital has increased its dividend payment by an average of 0.1% annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Main Street Capital has a dividend payout ratio of 83.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Main Street Capital to earn $3.81 per share next year, which means the company should continue to be able to cover its $3.18 annual dividend with an expected future payout ratio of 83.5%.

Main Street Capital Price Performance

Shares of NYSE:MAIN traded up $0.09 during midday trading on Tuesday, reaching $56.39. 590,273 shares of the company’s stock traded hands, compared to its average volume of 641,325. The company has a market cap of $5.27 billion, a P/E ratio of 11.37 and a beta of 0.73. Main Street Capital has a 1 year low of $48.95 and a 1 year high of $65.23. The company has a fifty day simple moving average of $55.67 and a two-hundred day simple moving average of $55.54. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.05 and a current ratio of 0.05.

Main Street Capital (NYSE:MAIN) last announced its quarterly earnings data on Thursday, August 6th. The financial services provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. The company had revenue of $327.56 million for the quarter, compared to analyst estimates of $144.59 million. Main Street Capital had a return on equity of 11.80% and a net margin of 78.49%. Equities analysts predict that Main Street Capital will post 3.75 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on MAIN. Weiss Ratings upgraded shares of Main Street Capital from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, September 3rd. Truist Financial increased their price objective on shares of Main Street Capital from $53.00 to $57.00 and gave the company a “hold” rating in a research report on Monday, August 10th. Wall Street Zen lowered Main Street Capital from a “hold” rating to a “sell” rating in a report on Sunday, October 11th. UBS Group dropped their price objective on Main Street Capital from $62.00 to $57.00 and set a “neutral” rating on the stock in a report on Friday, October 9th. Finally, Wells Fargo & Company raised Main Street Capital from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $55.00 to $60.00 in a research report on Tuesday, September 29th. Five analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $61.00.

About Main Street Capital

Main Street Capital Corporation is a business development company that provides customized debt and equity financing to privately held businesses. The company primarily invests in lower middle-market companies and also makes private loan investments in larger middle-market businesses.

Its investment activities include first-lien, second-lien and subordinated debt, as well as equity investments and other securities. Main Street seeks to provide flexible, long-term capital to support acquisitions, recapitalizations, growth initiatives and other corporate financing needs.