Horizon Technology Finance Corporation (NASDAQ:HRZN) Plans Monthly Dividend of $0.06

Horizon Technology Finance Corporation (NASDAQ:HRZN) declared a monthly dividend on Friday, February 27th. Investors of record on Monday, May 18th will be given a dividend of 0.06 per share by the investment management company on Tuesday, June 16th. This represents a c) dividend on an annualized basis and a yield of 16.9%. The ex-dividend date of this dividend is Monday, May 18th.

Horizon Technology Finance has increased its dividend by an average of 0.0%per year over the last three years. Horizon Technology Finance has a payout ratio of 62.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Horizon Technology Finance to earn $0.83 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 86.7%.

Horizon Technology Finance Price Performance

NASDAQ:HRZN opened at $4.25 on Friday. Horizon Technology Finance has a 1-year low of $3.80 and a 1-year high of $8.46. The firm’s fifty day moving average price is $4.29 and its 200 day moving average price is $5.74. The firm has a market cap of $290.11 million, a price-to-earnings ratio of 9.88 and a beta of 0.99.

Horizon Technology Finance (NASDAQ:HRZN) last announced its quarterly earnings data on Tuesday, May 5th. The investment management company reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. Horizon Technology Finance had a return on equity of 13.63% and a net margin of 22.55%.The company had revenue of ($6.19) million for the quarter, compared to analyst estimates of $21.09 million. As a group, analysts expect that Horizon Technology Finance will post 0.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

HRZN has been the topic of a number of analyst reports. Keefe, Bruyette & Woods raised Horizon Technology Finance from an “underperform” rating to a “market perform” rating and set a $5.00 price objective on the stock in a report on Thursday, March 5th. Weiss Ratings restated a “sell (d+)” rating on shares of Horizon Technology Finance in a research report on Friday, May 8th. Wall Street Zen lowered shares of Horizon Technology Finance from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. B. Riley Financial decreased their target price on shares of Horizon Technology Finance from $7.00 to $5.50 and set a “neutral” rating on the stock in a research report on Friday, March 6th. Finally, Zacks Research upgraded shares of Horizon Technology Finance from a “strong sell” rating to a “hold” rating in a research 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 company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $6.10.

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.