Horizon Technology Finance Corporation (HRZN) To Go Ex-Dividend on September 16th

Horizon Technology Finance Corporation (NASDAQ:HRZN) declared a monthly dividend on Tuesday, August 4th. Investors of record on Wednesday, September 16th will be paid a dividend of 0.06 per share by the investment management company on Thursday, October 15th. This represents a c) dividend on an annualized basis and a dividend yield of 16.4%. The ex-dividend date is Wednesday, September 16th.

Horizon Technology Finance has raised its dividend by an average of 0.0%annually over the last three years. Horizon Technology Finance has a dividend payout ratio of 62.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Horizon Technology Finance to earn $0.81 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 88.9%.

Horizon Technology Finance Stock Down 3.7%

Shares of HRZN stock opened at $4.38 on Thursday. The company has a market capitalization of $298.98 million, a P/E ratio of 12.17 and a beta of 0.98. The firm has a 50-day moving average price of $4.49 and a 200 day moving average price of $4.86. Horizon Technology Finance has a 12-month low of $3.80 and a 12-month high of $7.76.

Horizon Technology Finance (NASDAQ:HRZN) last announced its earnings results on Tuesday, August 4th. The investment management company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). Horizon Technology Finance had a return on equity of 11.96% and a net margin of 5.27%.The company had revenue of ($44.66) million during the quarter, compared to the consensus estimate of $25.22 million. As a group, research analysts expect that Horizon Technology Finance will post 0.69 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on HRZN shares. UBS Group lowered their target price on shares of Horizon Technology Finance from $4.50 to $4.25 and set a “neutral” rating for the company in a research note on Monday, May 18th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Horizon Technology Finance in a report on Friday, May 8th. Finally, Zacks Research upgraded Horizon Technology Finance from a “strong sell” rating to a “hold” rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $5.65.

Horizon Technology Finance Company Profile

Horizon Technology Finance Corporation is a specialty finance company organized as a business development company (BDC) that provides private credit solutions to venture capital and private equity-backed technology, life science and healthcare companies. The firm targets companies at various stages of development, offering secured debt financing structures such as first‐lien and second‐lien loans, as well as equity co‐investment opportunities in select portfolio companies.

Horizon Technology Finance’s investment strategy emphasizes deployment of capital in U.S.‐based enterprises with proven technology, strong management teams and clear paths to growth.