Horizon Technology Finance Co. (NASDAQ:HRZN) Plans Dividend of $0.11

Horizon Technology Finance Co. (NASDAQ:HRZN - Get Free Report) announced a dividend on Wednesday, April 16th, investing.com reports. Shareholders of record on Thursday, April 17th will be given a dividend of 0.11 per share by the investment management company on Thursday, May 15th. This represents a yield of 16.34%. The ex-dividend date of this dividend is Wednesday, April 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 dividend 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. 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 Stock Up 3.8 %

Shares of HRZN traded up $0.31 during mid-day trading on Friday, reaching $8.39. The company had a trading volume of 252,337 shares, compared to its average volume of 351,256. The stock has a 50 day moving average of $9.13 and a two-hundred day moving average of $9.36. The stock has a market capitalization of $338.24 million, a P/E ratio of -69.92 and a beta of 1.08. Horizon Technology Finance has a 52-week low of $7.55 and a 52-week high of $12.63.

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

Analysts Set New Price Targets

HRZN has been the topic of a number of analyst reports. StockNews.com cut Horizon Technology Finance from a "hold" rating to a "sell" rating in a research report on Thursday, February 20th. Maxim Group cut their price objective on Horizon Technology Finance from $15.00 to $13.00 and set a "buy" rating for the company in a research report on Monday, March 10th. Keefe, Bruyette & Woods dropped their price target on shares of Horizon Technology Finance from $8.00 to $7.50 and set an "underperform" rating on the stock in a research note on Tuesday, April 8th. Finally, UBS Group decreased 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 report on Thursday. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $9.20.

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.