Horizon Technology Finance Co. (NASDAQ:HRZN) to Issue Monthly Dividend of $0.10

Horizon Technology Finance Co. (NASDAQ:HRZN) announced a monthly dividend on Thursday, July 30th, Wall Street Journal reports. Stockholders of record on Tuesday, October 20th will be given a dividend of 0.10 per share by the investment management company on Monday, November 16th. This represents a $1.20 annualized dividend and a dividend yield of 9.04%. The ex-dividend date is Monday, October 19th.

Horizon Technology Finance has a payout ratio of 94.5% 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 $1.25 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 96.0%.

NASDAQ:HRZN opened at $13.28 on Friday. The company has a fifty day moving average of $12.25 and a 200-day moving average of $11.02. The firm has a market capitalization of $229.65 million, a P/E ratio of 10.54 and a beta of 1.08. Horizon Technology Finance has a twelve month low of $4.51 and a twelve month high of $13.78.

Horizon Technology Finance (NASDAQ:HRZN) last released its quarterly earnings data on Tuesday, July 28th. The investment management company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.12. The company had revenue of $13.52 million during the quarter, compared to analyst estimates of $11.08 million. Horizon Technology Finance had a net margin of 39.91% and a return on equity of 12.43%. Equities research analysts anticipate that Horizon Technology Finance will post 1.27 EPS for the current fiscal year.

HRZN has been the subject of several research analyst reports. Zacks Investment Research lowered shares of Horizon Technology Finance from a “buy” rating to a “hold” rating in a research note on Wednesday, September 30th. National Securities began coverage on shares of Horizon Technology Finance in a research note on Wednesday, September 23rd. They set a “neutral” rating for the company. TheStreet upgraded shares of Horizon Technology Finance from a “c+” rating to a “b-” rating in a research note on Thursday, August 20th. Finally, ValuEngine upgraded shares of Horizon Technology Finance from a “strong sell” rating to a “sell” rating in a research note on Thursday, September 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. Horizon Technology Finance presently has an average rating of “Hold” and a consensus price target of $10.83.

About Horizon Technology Finance

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, and cleantech industries.

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Dividend History for Horizon Technology Finance (NASDAQ:HRZN)

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