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

Horizon Technology Finance Co. (NASDAQ:HRZN) announced a monthly dividend on Thursday, August 1st, Wall Street Journal reports. Investors of record on Thursday, October 17th will be paid a dividend of 0.11 per share by the investment management company on Thursday, November 14th. This represents a $1.32 annualized dividend and a yield of 11.37%. The ex-dividend date of this dividend is Thursday, October 17th.

Horizon Technology Finance has raised its dividend payment by an average of 3.2% per year over the last three years. Horizon Technology Finance has a dividend payout ratio of 93.6% 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 Horizon Technology Finance to earn $1.43 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 92.3%.

Horizon Technology Finance Price Performance

Shares of HRZN stock traded down $0.03 during trading hours on Thursday, reaching $11.61. 243,937 shares of the company were exchanged, compared to its average volume of 253,831. The stock’s fifty day moving average is $12.00 and its two-hundred day moving average is $12.06. The company has a market cap of $406.59 million, a price-to-earnings ratio of -27.76 and a beta of 1.24. Horizon Technology Finance has a fifty-two week low of $10.75 and a fifty-two week high of $13.73.

Horizon Technology Finance (NASDAQ:HRZN) last posted its quarterly earnings data on Tuesday, July 30th. The investment management company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. The business had revenue of $25.68 million during the quarter, compared to the consensus estimate of $26.74 million. Horizon Technology Finance had a positive return on equity of 17.32% and a negative net margin of 21.19%. During the same period last year, the company earned $0.54 earnings per share. On average, research analysts anticipate that Horizon Technology Finance will post 1.48 earnings per share for the current year.

Wall Street Analyst Weigh In

HRZN has been the topic of a number of analyst reports. Keefe, Bruyette & Woods reduced their price objective on shares of Horizon Technology Finance from $9.50 to $9.00 and set an “underperform” rating on the stock in a research note on Thursday. B. Riley restated a “sell” rating and issued a $9.00 price target (down from $10.00) on shares of Horizon Technology Finance in a research report on Thursday. Four analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat.com, Horizon Technology Finance currently has a consensus rating of “Reduce” and an average target price of $9.70.

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, cleantech and sustainability industries.