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

Horizon Technology Finance Co. (NASDAQ:HRZN - Get Free Report) declared a dividend on Wednesday, April 16th, investing.com reports. Investors of record on Thursday, April 17th will be paid a dividend of 0.11 per share by the investment management company on Thursday, May 15th. This represents a yield of 16.34%. The ex-dividend date of this dividend is Wednesday, April 16th.

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 dividend payout ratio of 107.3% 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

Shares of NASDAQ:HRZN traded down $0.14 on Monday, hitting $8.25. 314,172 shares of the company were exchanged, compared to its average volume of 351,336. The company's 50 day moving average price is $9.10 and its two-hundred day moving average price is $9.33. The firm has a market capitalization of $332.60 million, a price-to-earnings ratio of -68.75 and a beta of 1.08. Horizon Technology Finance has a one year low of $7.55 and a one year high of $12.63.

Horizon Technology Finance (NASDAQ:HRZN - Get Free Report) last posted its quarterly earnings results on Tuesday, March 4th. The investment management company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.06). The firm had revenue of $23.55 million during the quarter, compared to analyst estimates of $25.69 million. Horizon Technology Finance had a negative net margin of 3.69% and a positive return on equity of 15.78%. Research analysts predict that Horizon Technology Finance will post 1.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on HRZN. Maxim Group cut their target price on Horizon Technology Finance from $15.00 to $13.00 and set a "buy" rating for the company in a research report on Monday, March 10th. 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. UBS Group decreased their price target on Horizon Technology Finance from $9.00 to $8.25 and set a "neutral" rating on the stock in a research report on Thursday. Finally, StockNews.com downgraded Horizon Technology Finance from a "hold" rating to a "sell" rating in a research report on Thursday, February 20th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $9.20.

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.