Horizon Technology Finance Corporation (NASDAQ:HRZN) Declares $0.11 Monthly Dividend

Horizon Technology Finance Corporation (NASDAQ:HRZN) declared a monthly dividend on Tuesday, August 5th. Shareholders of record on Thursday, October 16th will be paid a dividend of 0.11 per share by the investment management company on Friday, November 14th. This represents a c) dividend on an annualized basis and a dividend yield of 21.7%. The ex-dividend date of this dividend is Thursday, October 16th.

Horizon Technology Finance has a dividend payout ratio of 114.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Horizon Technology Finance to earn $1.26 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 104.8%.

Horizon Technology Finance Stock Up 3.2%

HRZN stock opened at $6.09 on Tuesday. The stock has a market capitalization of $259.13 million, a P/E ratio of -5.30 and a beta of 1.00. The firm has a 50-day simple moving average of $6.72 and a 200-day simple moving average of $7.46. Horizon Technology Finance has a 52 week low of $5.85 and a 52 week high of $10.69.

Horizon Technology Finance (NASDAQ:HRZN) last announced its quarterly earnings data on Thursday, August 7th. The investment management company reported $0.28 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.28. Horizon Technology Finance had a negative net margin of 48.76% and a positive return on equity of 14.02%. The company had revenue of ($9.89) million during the quarter, compared to analysts’ expectations of $24.54 million. On average, analysts expect that Horizon Technology Finance will post 1.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

HRZN has been the topic of a number of research reports. Maxim Group reduced their target price on shares of Horizon Technology Finance from $10.00 to $7.50 and set a “buy” rating on the stock in a report on Monday, August 11th. Weiss Ratings restated a “sell (d)” rating on shares of Horizon Technology Finance in a report on Wednesday, October 8th. Finally, UBS Group lifted their price target on shares of Horizon Technology Finance from $7.50 to $8.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 16th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $7.30.

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.