Horizon Technology Finance Corporation Declares Dividend of $0.11 (NASDAQ:HRZN)

Horizon Technology Finance Corporation (NASDAQ:HRZN) declared a dividend on Monday, June 16th, investing.com reports. Stockholders 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 dividend yield of 18.06%. The ex-dividend date of this dividend is Monday, June 16th.

Horizon Technology Finance has a dividend 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 Stock Up 0.7%

Shares of Horizon Technology Finance stock opened at $7.36 on Wednesday. The firm has a market cap of $296.98 million, a P/E ratio of -8.09 and a beta of 1.01. Horizon Technology Finance has a fifty-two week low of $7.12 and a fifty-two week high of $12.63. The business has a 50-day moving average price of $7.76 and a 200 day moving average price of $8.73.

Horizon Technology Finance (NASDAQ:HRZN) last issued its earnings results on Tuesday, April 29th. The investment management company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.06). Horizon Technology Finance had a positive return on equity of 13.98% and a negative net margin of 36.34%. The firm had revenue of $24.52 million during the quarter, compared to analyst estimates of $26.67 million. As a group, equities research analysts anticipate that Horizon Technology Finance will post 1.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Horizon Technology Finance from $8.00 to $7.50 and set an “underperform” rating for the company in a report on Tuesday, April 8th. Maxim Group reduced their price target on shares of 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. Wall Street Zen downgraded shares of Horizon Technology Finance from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. UBS Group dropped 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. Finally, B. Riley initiated coverage on Horizon Technology Finance in a research note on Tuesday, May 13th. They issued a “neutral” rating and a $7.00 target price for the company. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Horizon Technology Finance presently has a consensus rating of “Hold” and an average target price 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.