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

Horizon Technology Finance Corporation (NASDAQ:HRZN) declared a special dividend on Friday, May 1st. Shareholders of record on Thursday, July 16th will be paid a dividend of 0.03 per share by the investment management company on Friday, August 14th. The ex-dividend date is Thursday, July 16th.

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 dividend payout ratio of 62.6% indicating that 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 Price Performance

Horizon Technology Finance stock opened at $4.66 on Tuesday. The firm’s 50 day simple moving average is $4.39 and its 200-day simple moving average is $5.11. The company has a market cap of $318.09 million, a P/E ratio of 10.84 and a beta of 0.97. Horizon Technology Finance has a fifty-two week low of $3.80 and a fifty-two week high of $8.46.

Horizon Technology Finance (NASDAQ:HRZN) last released its quarterly earnings results on Tuesday, May 5th. The investment management company reported $0.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.19. The business had revenue of ($6.19) million for the quarter, compared to analyst estimates of $21.09 million. Horizon Technology Finance had a net margin of 22.55% and a return on equity of 13.63%. On average, analysts expect that Horizon Technology Finance will post 0.69 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. UBS Group cut their target price on shares of Horizon Technology Finance from $4.50 to $4.25 and set a “neutral” rating on the stock in a research note on Monday, May 18th. Zacks Research raised Horizon Technology Finance from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 7th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Horizon Technology Finance in a report on Friday, May 8th. Finally, Oppenheimer dropped their price target on Horizon Technology Finance from $7.00 to $6.00 and set a “market perform” rating on the stock in a research report on Tuesday, March 24th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $5.65.

About Horizon Technology Finance

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.