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

Horizon Technology Finance Co. (NASDAQ:HRZN) announced a dividend on Monday, June 16th, investing.com reports. Investors of record on Tuesday, June 17th will be given a dividend of 0.11 per share by the investment management company on Tuesday, July 15th. This represents a yield of 18.06%. The ex-dividend date is Monday, June 16th.

Horizon Technology Finance has a payout ratio of 114.8% 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 Stock Performance

NASDAQ HRZN opened at $7.31 on Tuesday. The stock has a 50-day moving average of $7.78 and a 200 day moving average of $8.74. The company has a market capitalization of $295.00 million, a price-to-earnings ratio of -60.92 and a beta of 1.01. Horizon Technology Finance has a one year low of $7.12 and a one year high of $12.63.

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

Analyst Ratings Changes

Several analysts have recently issued reports on HRZN shares. Compass Point cut Horizon Technology Finance from a “neutral” rating to a “sell” rating and set a $6.50 price objective on the stock. in a report on Wednesday, April 30th. UBS Group decreased their price target on Horizon Technology Finance from $9.00 to $8.25 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Wall Street Zen lowered Horizon Technology Finance from a “hold” rating to a “sell” rating in a report on Thursday, February 20th. B. Riley began coverage on Horizon Technology Finance in a report on Tuesday, May 13th. They set a “neutral” rating and a $7.00 price target on the stock. Finally, Maxim Group decreased their price target on Horizon Technology Finance from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Horizon Technology Finance has a consensus rating of “Hold” and an average price target of $8.45.

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.