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

Horizon Technology Finance Co. (NASDAQ:HRZN - Get Free Report) declared a monthly dividend on Friday, May 2nd, Wall Street Journal reports. Shareholders of record on Monday, August 18th will be given a dividend of 0.11 per share by the investment management company on Tuesday, September 16th. This represents a $1.32 annualized dividend and a yield of 17.98%. The ex-dividend date of this dividend is Monday, August 18th.

Horizon Technology Finance has raised its dividend payment by an average of 3.2% per year over the last three years. Horizon Technology Finance has a payout ratio of 108.2% indicating that 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 Performance

NASDAQ:HRZN traded up $0.20 during trading hours on Friday, hitting $7.34. 172,201 shares of the company's stock traded hands, compared to its average volume of 410,560. The firm has a market cap of $296.16 million, a P/E ratio of -60.99 and a beta of 1.08. Horizon Technology Finance has a twelve month low of $7.12 and a twelve month high of $12.63. The stock's fifty day moving average price is $8.86 and its two-hundred day moving average price is $9.22.

Horizon Technology Finance (NASDAQ:HRZN - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The investment management company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.06). Horizon Technology Finance had a positive return on equity of 15.78% and a negative net margin of 3.69%. The business had revenue of $24.52 million during the quarter, compared to analyst estimates of $26.67 million. On average, equities research analysts predict that Horizon Technology Finance will post 1.38 earnings per share for the current year.

Analysts Set New Price Targets

HRZN has been the topic of a number of recent analyst reports. Maxim Group lowered their price target on Horizon Technology Finance from $15.00 to $13.00 and set a "buy" rating on the stock in a research report on Monday, March 10th. Compass Point lowered shares of Horizon Technology Finance from a "neutral" rating to a "sell" rating and set a $6.50 target price on the stock. in a research note on Wednesday. Keefe, Bruyette & Woods cut their price target on shares of Horizon Technology Finance from $8.00 to $7.50 and set an "underperform" rating on the stock in a report on Tuesday, April 8th. UBS Group lowered their target price on shares of Horizon Technology Finance from $9.00 to $8.25 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Finally, StockNews.com lowered Horizon Technology Finance from a "hold" rating to a "sell" rating in a research report on Thursday, February 20th. Four equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, Horizon Technology Finance presently has an average rating of "Hold" and an average price target of $8.85.

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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