Horizon Technology Finance Co. (NASDAQ:HRZN) announced a monthly dividend on Friday, July 31st, Wall Street Journal reports. Shareholders of record on Wednesday, November 18th will be given a dividend of 0.10 per share by the investment management company on Tuesday, December 15th. This represents a $1.20 annualized dividend and a yield of 9.88%. The ex-dividend date of this dividend is Tuesday, November 17th.
Horizon Technology Finance has a payout ratio of 94.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities 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%.
Shares of NASDAQ:HRZN opened at $12.14 on Monday. The company’s fifty day moving average price is $12.21 and its 200-day moving average price is $11.50. The firm has a market capitalization of $222.99 million, a price-to-earnings ratio of 17.59 and a beta of 1.09. Horizon Technology Finance has a one year low of $4.51 and a one year high of $13.78.
Several equities research analysts have recently commented on the stock. National Securities started coverage on shares of Horizon Technology Finance in a research report on Wednesday, September 23rd. They issued a “neutral” rating for the company. ValuEngine upgraded shares of Horizon Technology Finance from a “strong sell” rating to a “sell” rating in a research note on Thursday, September 3rd. 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. Finally, TheStreet upgraded shares of Horizon Technology Finance from a “c+” rating to a “b-” rating in a research note on Thursday, August 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $10.83.
Horizon Technology Finance Company Profile
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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