Horizon Technology Finance Co. (NASDAQ:HRZN – Get Free Report) announced a monthly dividend on Monday, May 6th, Wall Street Journal reports. Investors of record on Friday, August 16th will be given a dividend of 0.11 per share by the investment management company on Friday, September 13th. This represents a $1.32 annualized dividend and a yield of 11.73%. The ex-dividend date of this dividend is Friday, August 16th.
Horizon Technology Finance has raised its dividend payment by an average of 3.2% annually over the last three years. Horizon Technology Finance has a payout ratio of 97.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Horizon Technology Finance to earn $1.43 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 92.3%.
Horizon Technology Finance Price Performance
Shares of NASDAQ:HRZN opened at $11.25 on Wednesday. The company’s fifty day moving average price is $11.93 and its 200-day moving average price is $11.94. The firm has a market capitalization of $393.99 million, a price-to-earnings ratio of -26.79 and a beta of 1.24. Horizon Technology Finance has a one year low of $10.51 and a one year high of $13.73.
Horizon Technology Finance (NASDAQ:HRZN – Get Free Report) last released its earnings results on Tuesday, July 30th. The investment management company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.34 by $0.02. Horizon Technology Finance had a negative net margin of 21.19% and a positive return on equity of 17.39%. The company had revenue of $25.68 million for the quarter, compared to analyst estimates of $26.74 million. During the same quarter last year, the firm earned $0.54 EPS. As a group, equities research analysts expect that Horizon Technology Finance will post 1.47 EPS for the current year.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the company. B. Riley restated a “sell” rating and issued a $9.00 price target (down previously from $10.00) on shares of Horizon Technology Finance in a research note on Thursday, August 1st. Keefe, Bruyette & Woods cut their price target on Horizon Technology Finance from $9.50 to $9.00 and set an “underperform” rating for the company in a research note on Thursday, August 1st. Four research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, Horizon Technology Finance presently has an average rating of “Reduce” and an average price target of $9.70.
Check Out Our Latest Stock Report on Horizon Technology Finance
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.
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