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

Horizon Technology Finance Co. (NASDAQ:HRZN - Get Free Report) declared a monthly dividend on Friday, April 25th, NASDAQ Dividends reports. Shareholders of record on Wednesday, July 16th will be paid a dividend of 0.11 per share by the investment management company on Friday, August 15th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 17.93%. The ex-dividend date is Wednesday, July 16th.

Horizon Technology Finance has a 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 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 Price Performance

NASDAQ:HRZN traded up $0.05 on Tuesday, hitting $7.36. 321,407 shares of the company's stock were exchanged, compared to its average volume of 398,027. The firm has a 50-day moving average price of $7.78 and a 200-day moving average price of $8.74. Horizon Technology Finance has a 52 week low of $7.12 and a 52 week high of $12.63. The company has a market cap of $297.01 million, a P/E ratio of -61.33 and a beta of 1.01.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods dropped their price objective on shares of Horizon Technology Finance from $8.00 to $7.50 and set an "underperform" rating on the stock in a research report on Tuesday, April 8th. Maxim Group dropped their price objective on shares of Horizon Technology Finance from $15.00 to $13.00 and set a "buy" rating for the company in a report on Monday, March 10th. Wall Street Zen cut shares of Horizon Technology Finance from a "hold" rating to a "sell" rating in a research note on Thursday, February 20th. UBS Group decreased their price objective on shares of Horizon Technology Finance from $9.00 to $8.25 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Finally, B. Riley started coverage on shares of Horizon Technology Finance in a research report on Tuesday, May 13th. They set a "neutral" rating and a $7.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Horizon Technology Finance has an average rating of "Hold" and an average price target of $8.45.

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.