Horizon Technology Finance Co. (NASDAQ:HRZN – Get Free Report) declared a monthly dividend on Friday, November 1st, Wall Street Journal reports. Shareholders of record on Tuesday, February 18th will be given a dividend of 0.11 per share by the investment management company on Friday, March 14th. This represents a $1.32 dividend on an annualized basis and a yield of 13.98%. The ex-dividend date is Tuesday, February 18th.
Horizon Technology Finance has raised its dividend 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 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 Performance
Shares of HRZN opened at $9.44 on Friday. The company has a market capitalization of $359.29 million, a price-to-earnings ratio of -78.67 and a beta of 1.23. Horizon Technology Finance has a fifty-two week low of $9.30 and a fifty-two week high of $13.73. The firm has a 50-day simple moving average of $10.61 and a 200-day simple moving average of $11.36.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on HRZN. B. Riley reissued a “sell” rating and issued a $9.00 price objective (down from $10.00) on shares of Horizon Technology Finance in a research note on Thursday, August 1st. Keefe, Bruyette & Woods cut their price target on shares of Horizon Technology Finance from $9.50 to $9.00 and set an “underperform” rating for the company in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $9.63.
Get Our Latest Analysis on Horizon Technology Finance
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.
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