Horizon Technology Finance Co. (NASDAQ:HRZN) Declares $0.11 Monthly Dividend

by · The Markets Daily

Horizon Technology Finance Co. (NASDAQ:HRZN – Get Free Report) declared a monthly dividend on Thursday, October 31st, Wall Street Journal reports. Shareholders of record on Thursday, January 16th will be given a dividend of 0.11 per share by the investment management company on Friday, February 14th. This represents a $1.32 dividend on an annualized basis and a yield of 13.68%. The ex-dividend date of this dividend is Thursday, January 16th.

Horizon Technology Finance has raised its dividend by an average of 3.2% per year over the last three years. Horizon Technology Finance has a payout ratio of 99.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Horizon Technology Finance to earn $1.31 per share next year, which means the company may not be able to cover its $1.32 annual dividend with an expected future payout ratio of 100.8%.

Horizon Technology Finance Stock Performance

Shares of Horizon Technology Finance stock traded down $0.04 during trading hours on Thursday, reaching $9.65. The company’s stock had a trading volume of 364,698 shares, compared to its average volume of 285,675. Horizon Technology Finance has a one year low of $9.30 and a one year high of $13.73. The company’s 50 day simple moving average is $10.67 and its 200 day simple moving average is $11.38. The stock has a market cap of $337.95 million, a P/E ratio of -23.07 and a beta of 1.23.

Horizon Technology Finance (NASDAQ:HRZN – Get Free Report) last issued its earnings results on Tuesday, October 29th. The investment management company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). Horizon Technology Finance had a positive return on equity of 17.39% and a negative net margin of 21.19%. The company had revenue of $24.56 million during the quarter, compared to analyst estimates of $25.38 million. During the same period in the prior year, the business earned $0.53 earnings per share. On average, sell-side analysts predict that Horizon Technology Finance will post 1.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

HRZN has been the topic of several analyst reports. Keefe, Bruyette & Woods lowered their target price on Horizon Technology Finance from $9.50 to $9.00 and set an “underperform” rating on the stock in a research report on Thursday, August 1st. B. Riley reiterated a “sell” rating and issued a $9.00 target price (down previously from $10.00) on shares of Horizon Technology Finance in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat, Horizon Technology Finance has an average rating of “Hold” and a consensus target price of $9.63.

Check Out Our Latest Analysis on HRZN

Horizon Technology Finance Company Profile

(Get Free Report)

Horizon Technology Finance Corporation is a business development company specializing in lending and and investing in development-stage investments. It focuses on making secured debt and venture lending investments to venture capital backed companies in the technology, life science, healthcare information and services, cleantech and sustainability industries.

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