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

Horizon Technology Finance Co. (NASDAQ:HRZN) declared a monthly dividend on Thursday, August 1st, Wall Street Journal reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 12.52%. The ex-dividend date of this dividend is Thursday, October 17th.

Horizon Technology Finance has increased 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 99.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. 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 Up 0.6 %

NASDAQ HRZN opened at $10.54 on Wednesday. The company has a market capitalization of $369.12 million, a price-to-earnings ratio of -25.10 and a beta of 1.23. Horizon Technology Finance has a twelve month low of $10.35 and a twelve month high of $13.73. The stock has a fifty day simple moving average of $10.91 and a 200 day simple moving average of $11.47.

Horizon Technology Finance (NASDAQ:HRZN) last issued its quarterly earnings results on Tuesday, July 30th. The investment management company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.02. The company had revenue of $25.68 million during the quarter, compared to analysts’ expectations of $26.74 million. Horizon Technology Finance had a positive return on equity of 17.39% and a negative net margin of 21.19%. During the same quarter in the prior year, the firm posted $0.54 earnings per share. Research analysts expect that Horizon Technology Finance will post 1.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on HRZN shares. B. Riley restated a “sell” rating and issued a $9.00 price target (down previously from $10.00) on shares of Horizon Technology Finance in a research report on Thursday, August 1st. Keefe, Bruyette & Woods lowered their target price on shares of Horizon Technology Finance from $9.50 to $9.00 and set an “underperform” rating for the company in a research note on Thursday, August 1st. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat.com, Horizon Technology Finance has a consensus rating of “Hold” 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.