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

Horizon Technology Finance Co. (NASDAQ:HRZNGet Free Report) announced a monthly dividend on Thursday, October 31st, Wall Street Journal reports. Shareholders of record on Thursday, January 16th will be paid 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 payment by an average of 3.2% annually over the last three years. Horizon Technology Finance has a payout ratio of 99.2% meaning 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 NASDAQ HRZN traded down $0.04 during mid-day trading on Thursday, reaching $9.65. The company had a trading volume of 364,698 shares, compared to its average volume of 285,675. The stock has a fifty day moving average of $10.67 and a two-hundred day moving average of $11.38. Horizon Technology Finance has a 12-month low of $9.30 and a 12-month high of $13.73. The company has a market capitalization of $337.95 million, a price-to-earnings ratio of -23.07 and a beta of 1.23.

Horizon Technology Finance (NASDAQ:HRZNGet Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The investment management company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). Horizon Technology Finance had a negative net margin of 21.19% and a positive return on equity of 17.39%. The company had revenue of $24.56 million for the quarter, compared to analysts’ expectations of $25.38 million. During the same quarter in the prior year, the firm earned $0.53 earnings per share. Sell-side analysts forecast that Horizon Technology Finance will post 1.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. B. Riley reaffirmed a “sell” rating and issued a $9.00 target price (down from $10.00) on shares of Horizon Technology Finance in a research report on Thursday, August 1st. Keefe, Bruyette & Woods cut 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 report on Thursday, August 1st. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $9.63.

View Our Latest Analysis on Horizon Technology Finance

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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Dividend History for Horizon Technology Finance (NASDAQ:HRZN)

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