Horizon Technology Finance Corporation (NASDAQ:HRZN) to Issue $0.11 Dividend

Horizon Technology Finance Corporation (NASDAQ:HRZN - Get Free Report) announced a dividend on Monday, June 16th, investing.com reports. Investors of record on Tuesday, June 17th will be paid a dividend of 0.11 per share by the investment management company on Tuesday, July 15th. This represents a yield of 18.06%. The ex-dividend date is Monday, June 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. 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 0.7%

Shares of NASDAQ HRZN traded up $0.05 during trading on Thursday, reaching $7.41. 246,769 shares of the company traded hands, compared to its average volume of 398,749. The firm has a 50 day simple moving average of $7.75 and a 200-day simple moving average of $8.72. The stock has a market capitalization of $298.99 million, a PE ratio of -8.14 and a beta of 1.01. Horizon Technology Finance has a 52-week low of $7.12 and a 52-week high of $12.63.

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 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 36.34% and a positive return on equity of 13.98%. The company had revenue of $24.52 million for the quarter, compared to analysts' expectations of $26.67 million. As a group, research analysts predict that Horizon Technology Finance will post 1.38 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on HRZN shares. Maxim Group lowered their price objective on shares of Horizon Technology Finance from $15.00 to $13.00 and set a "buy" rating on the stock in a research note on Monday, March 10th. Compass Point cut shares of Horizon Technology Finance from a "neutral" rating to a "sell" rating and set a $6.50 price objective on the stock. in a research note on Wednesday, April 30th. UBS Group lowered their price objective on shares of Horizon Technology Finance from $9.00 to $8.25 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. B. Riley began coverage on shares of Horizon Technology Finance in a research note on Tuesday, May 13th. They issued a "neutral" rating and a $7.00 price objective on the stock. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Horizon Technology Finance from $8.00 to $7.50 and set an "underperform" rating on the stock in a research note on Tuesday, April 8th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $8.45.

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.