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

Horizon Technology Finance Co. (NASDAQ:HRZN - Get Free Report) declared a monthly dividend on Friday, May 2nd, Wall Street Journal reports. Stockholders of record on Monday, August 18th will be paid 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 dividend yield of 17.76%. The ex-dividend date is Monday, August 18th.

Horizon Technology Finance has increased its dividend by an average of 3.2% per year over the last three years. Horizon Technology Finance has a dividend payout ratio of 112.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research 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

Horizon Technology Finance stock traded down $0.10 during mid-day trading on Wednesday, reaching $7.43. The company's stock had a trading volume of 218,352 shares, compared to its average volume of 370,562. Horizon Technology Finance has a 12 month low of $7.12 and a 12 month high of $12.63. The business's 50 day simple moving average is $8.73 and its 200 day simple moving average is $9.15. The company has a market capitalization of $299.92 million, a price-to-earnings ratio of -61.93 and a beta of 1.05.

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

Analyst Ratings Changes

Several equities research analysts have recently commented on HRZN shares. Compass Point downgraded Horizon Technology Finance from a "neutral" rating to a "sell" rating and set a $6.50 price objective for the company. in a report on Wednesday, April 30th. StockNews.com cut shares of Horizon Technology Finance from a "hold" rating to a "sell" rating in a research note on Thursday, February 20th. UBS Group dropped 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. Maxim Group decreased their target price on Horizon Technology Finance from $15.00 to $13.00 and set a "buy" rating on the stock in a report on Monday, March 10th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Horizon Technology Finance from $8.00 to $7.50 and set an "underperform" rating for the company in a research note on Tuesday, April 8th. Four investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, Horizon Technology Finance currently has a consensus rating of "Hold" and an average price target of $8.85.

About Horizon Technology Finance

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.