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

Horizon Technology Finance Co. (NASDAQ:HRZN) 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.

Horizon Technology Finance (NASDAQ:HRZN) last posted its quarterly earnings data on Tuesday, October 29th. The investment management company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The company had revenue of $24.56 million for the quarter, compared to analyst estimates of $25.38 million. Horizon Technology Finance had a positive return on equity of 15.78% and a negative net margin of 3.69%. During the same period in the previous year, the business posted $0.53 earnings per share. Equities research analysts forecast that Horizon Technology Finance will post 1.23 EPS for the current year.

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.

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.