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

Horizon Technology Finance Co. (NASDAQ:HRZN) declared a monthly dividend on Thursday, March 6th, Wall Street Journal reports. Shareholders of record on Friday, May 16th will be paid a dividend of 0.11 per share by the investment management company on Friday, June 13th. This represents a $1.32 dividend on an annualized basis and a yield of 17.48%. The ex-dividend date of this dividend is Friday, May 16th.

Horizon Technology Finance has increased its dividend payment by an average of 3.2% per year over the last three years. Horizon Technology Finance has a dividend payout ratio of 114.8% 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 Trading Down 0.5%

Shares of NASDAQ:HRZN opened at $7.55 on Wednesday. Horizon Technology Finance has a 12-month low of $7.12 and a 12-month high of $12.63. The company has a market capitalization of $304.68 million, a PE ratio of -62.92 and a beta of 1.05. The business has a 50 day moving average of $8.55 and a two-hundred day moving average of $9.06.

Horizon Technology Finance (NASDAQ:HRZN) last posted its quarterly earnings data on Tuesday, April 29th. The investment management company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.06). The business had revenue of $24.52 million during the quarter, compared to analysts’ expectations of $26.67 million. Horizon Technology Finance had a negative net margin of 3.69% and a positive return on equity of 15.78%. Equities research analysts predict that Horizon Technology Finance will post 1.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

HRZN has been the subject of a number of recent analyst reports. StockNews.com cut Horizon Technology Finance from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. B. Riley began coverage on Horizon Technology Finance in a research note on Tuesday. They issued a “neutral” rating and a $7.00 price objective for the company. UBS Group dropped their target price on Horizon Technology Finance from $9.00 to $8.25 and set a “neutral” rating for the company in a report on Thursday, April 17th. Keefe, Bruyette & Woods dropped their target price on Horizon Technology Finance from $8.00 to $7.50 and set an “underperform” rating for the company in a report on Tuesday, April 8th. Finally, Compass Point cut Horizon Technology Finance from a “neutral” rating to a “sell” rating and set a $6.50 target price for the company. in a report on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $8.45.

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.