Horizon Technology Finance Corporation (HRZN) to Issue Monthly Dividend of $0.06 on May 15th

Horizon Technology Finance Corporation (NASDAQ:HRZN) declared a monthly dividend on Friday, February 27th. Shareholders of record on Thursday, April 16th will be paid a dividend of 0.06 per share by the investment management company on Friday, May 15th. This represents a c) dividend on an annualized basis and a yield of 15.8%. The ex-dividend date is Thursday, April 16th.

Horizon Technology Finance has raised its dividend payment by an average of 0.0%per year over the last three years. Horizon Technology Finance has a dividend payout ratio of 62.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Horizon Technology Finance to earn $1.26 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 57.1%.

Horizon Technology Finance Stock Performance

Shares of HRZN stock opened at $4.57 on Tuesday. Horizon Technology Finance has a 1 year low of $3.97 and a 1 year high of $9.07. The stock has a fifty day moving average of $5.20 and a two-hundred day moving average of $6.01. The firm has a market capitalization of $218.49 million, a PE ratio of -28.56 and a beta of 1.10.

Horizon Technology Finance (NASDAQ:HRZN) last announced its quarterly earnings data on Tuesday, March 3rd. The investment management company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.12). The firm had revenue of $0.58 million during the quarter, compared to analyst estimates of $25.64 million. Horizon Technology Finance had a negative net margin of 2.77% and a positive return on equity of 14.52%. Equities research analysts predict that Horizon Technology Finance will post 1.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on HRZN. B. Riley Financial cut their price objective on Horizon Technology Finance from $7.00 to $5.50 and set a “neutral” rating for the company in a report on Friday, March 6th. Oppenheimer cut their price objective on Horizon Technology Finance from $7.00 to $6.00 and set a “market perform” rating for the company in a report on Tuesday, March 24th. Wall Street Zen lowered Horizon Technology Finance from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Weiss Ratings restated a “sell (d)” rating on shares of Horizon Technology Finance in a report on Thursday, January 22nd. Finally, Zacks Research lowered Horizon Technology Finance from a “hold” rating to a “strong sell” rating in a report on Thursday, March 5th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $6.17.

Horizon Technology Finance Company Profile

Horizon Technology Finance Corporation is a specialty finance company organized as a business development company (BDC) that provides private credit solutions to venture capital and private equity-backed technology, life science and healthcare companies. The firm targets companies at various stages of development, offering secured debt financing structures such as first‐lien and second‐lien loans, as well as equity co‐investment opportunities in select portfolio companies.

Horizon Technology Finance’s investment strategy emphasizes deployment of capital in U.S.‐based enterprises with proven technology, strong management teams and clear paths to growth.