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

Horizon Technology Finance Co. (NASDAQ:HRZN) announced a monthly dividend on Friday, August 2nd,Wall Street Journal reports. Investors of record on Friday, November 15th will be given a dividend of 0.11 per share by the investment management company on Friday, December 13th. This represents a $1.32 dividend on an annualized basis and a yield of 14.15%. The ex-dividend date of this dividend is Friday, November 15th.

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 dividend payout ratio of 103.1% 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 Trading Up 0.8 %

HRZN stock opened at $9.33 on Thursday. The company has a market cap of $355.10 million, a P/E ratio of -77.75 and a beta of 1.24. Horizon Technology Finance has a 52 week low of $9.18 and a 52 week high of $13.73. The company’s 50-day moving average price is $10.34 and its 200 day moving average price is $11.24.

Horizon Technology Finance (NASDAQ:HRZN) last released its quarterly earnings data on Tuesday, October 29th. The investment management company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The company had revenue of $24.56 million for the quarter, compared to analysts’ expectations of $25.38 million. Horizon Technology Finance had a positive return on equity of 15.78% and a negative net margin of 3.69%. During the same period in the prior year, the firm posted $0.53 EPS. On average, equities research analysts expect that Horizon Technology Finance will post 1.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on HRZN. Keefe, Bruyette & Woods decreased their price objective on shares of Horizon Technology Finance from $9.50 to $9.00 and set an “underperform” rating on the stock in a report on Thursday, August 1st. B. Riley restated a “sell” rating and set a $9.00 target price (down previously from $10.00) on shares of Horizon Technology Finance in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $9.63.

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.