Horizon Technology Finance Corporation (NASDAQ:HRZN) to Issue Monthly Dividend of $0.11

Horizon Technology Finance Corporation (NASDAQ:HRZN) announced a monthly dividend on Tuesday, August 5th, NASDAQ Dividends reports. Stockholders of record on Wednesday, September 17th will be given a dividend of 0.11 per share by the investment management company on Wednesday, October 15th. This represents a c) annualized dividend and a dividend yield of 19.3%. The ex-dividend date is Wednesday, September 17th.

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 Stock Performance

HRZN opened at $6.85 on Monday. The company has a market cap of $291.44 million, a PE ratio of -5.96 and a beta of 0.99. The stock has a 50-day moving average of $7.46 and a 200-day moving average of $7.90. Horizon Technology Finance has a 52-week low of $6.77 and a 52-week high of $11.08.

Horizon Technology Finance (NASDAQ:HRZN) last released its quarterly earnings results on Thursday, August 7th. The investment management company reported $0.28 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.28. The company had revenue of ($9.89) million during the quarter, compared to the consensus estimate of $24.54 million. Horizon Technology Finance had a positive return on equity of 14.02% and a negative net margin of 48.76%. On average, research analysts predict that Horizon Technology Finance will post 1.38 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on HRZN shares. Maxim Group decreased their price target on Horizon Technology Finance from $10.00 to $7.50 and set a “buy” rating for the company in a research note on Monday, August 11th. UBS Group increased their target price on Horizon Technology Finance from $7.50 to $8.00 and gave the company a “neutral” rating in a research note on Wednesday, July 16th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $7.30.

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.