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

Horizon Technology Finance Co. (NASDAQ:HRZN - Get Free Report) declared a monthly dividend on Friday, November 1st, Wall Street Journal reports. Stockholders of record on Tuesday, February 18th will be paid a dividend of 0.11 per share by the investment management company on Friday, March 14th. This represents a $1.32 annualized dividend and a dividend yield of 13.98%. The ex-dividend date of this dividend is Tuesday, February 18th.

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 99.2% 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 $1.31 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 100.8%.

Horizon Technology Finance Stock Down 2.2 %

Shares of HRZN traded down $0.21 during trading on Friday, reaching $9.44. The company's stock had a trading volume of 608,558 shares, compared to its average volume of 287,234. The company has a market cap of $359.29 million, a price-to-earnings ratio of -78.67 and a beta of 1.23. The company has a fifty day moving average of $10.64 and a two-hundred day moving average of $11.37. Horizon Technology Finance has a twelve month low of $9.30 and a twelve month high of $13.73.

Horizon Technology Finance (NASDAQ:HRZN - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The investment management company reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.03). The business had revenue of $24.56 million during the quarter, compared to the consensus estimate 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 quarter in the previous year, the business posted $0.53 earnings per share. As a group, equities analysts forecast that Horizon Technology Finance will post 1.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

HRZN has been the topic of a number of analyst reports. Keefe, Bruyette & Woods dropped 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 issued a $9.00 target price (down from $10.00) on shares of Horizon Technology Finance in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat.com, Horizon Technology Finance has an average rating of "Hold" and an average 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.