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

Horizon Technology Finance Co. (NASDAQ:HRZN - Get Free Report) announced a monthly dividend on Friday, February 28th, NASDAQ Dividends reports. Stockholders of record on Wednesday, April 16th will be paid a dividend of 0.11 per share by the investment management company on Thursday, May 15th. This represents a $1.32 annualized dividend and a dividend yield of 14.18%. The ex-dividend date of this dividend is Wednesday, April 16th.

Horizon Technology Finance has increased its dividend by an average of 3.2% annually over the last three years. Horizon Technology Finance has a payout ratio of 107.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 0.3 %

HRZN traded up $0.03 during trading on Wednesday, hitting $9.31. 263,455 shares of the company traded hands, compared to its average volume of 338,911. Horizon Technology Finance has a one year low of $8.46 and a one year high of $12.63. The stock's fifty day moving average is $9.41 and its 200 day moving average is $9.70. The firm has a market cap of $375.33 million, a P/E ratio of -77.58 and a beta of 1.18.

Horizon Technology Finance (NASDAQ:HRZN - Get Free Report) last released its earnings results on Tuesday, March 4th. The investment management company reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.06). The company had revenue of $23.55 million for the quarter, compared to the consensus estimate of $25.69 million. Horizon Technology Finance had a negative net margin of 3.69% and a positive return on equity of 15.78%. On average, equities research analysts forecast that Horizon Technology Finance will post 1.38 EPS for the current fiscal year.

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Wall Street Analysts Forecast Growth

Several brokerages have issued reports on HRZN. Compass Point upgraded Horizon Technology Finance from a "sell" rating to a "neutral" rating and set a $8.25 target price on the stock in a research note on Tuesday, December 17th. Keefe, Bruyette & Woods lowered their price objective on Horizon Technology Finance from $9.00 to $8.00 and set an "underperform" rating on the stock in a research note on Friday, March 7th. Maxim Group dropped 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 report on Monday, March 10th. Finally, StockNews.com downgraded shares of Horizon Technology Finance from a "hold" rating to a "sell" rating in a research note on Thursday, February 20th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Horizon Technology Finance currently has an average rating of "Hold" and an average price target of $9.56.

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.