Horizon Technology Finance Corporation (NASDAQ:HRZN) Announces Special Dividend of $0.03

Horizon Technology Finance Corporation (NASDAQ:HRZN) declared a special dividend on Tuesday, August 4th. Investors of record on Friday, October 16th will be given a dividend of 0.03 per share by the investment management company on Monday, November 16th. The ex-dividend date is Friday, October 16th.

Horizon Technology Finance has raised 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

NASDAQ HRZN opened at $4.55 on Wednesday. The firm’s fifty day moving average price is $4.48 and its 200 day moving average price is $4.88. Horizon Technology Finance has a 12 month low of $3.80 and a 12 month high of $7.76. The company has a market capitalization of $310.79 million, a price-to-earnings ratio of 10.59 and a beta of 0.98.

Horizon Technology Finance (NASDAQ:HRZN) last announced its quarterly 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 net margin of 22.55% and a return on equity of 13.63%. The company had revenue of ($44.66) million during the quarter, compared to analysts’ expectations of $25.22 million. As a group, sell-side analysts forecast that Horizon Technology Finance will post 0.69 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HRZN. UBS Group reduced their target price on Horizon Technology Finance from $4.50 to $4.25 and set a “neutral” rating for the company in a report on Monday, May 18th. Zacks Research upgraded Horizon Technology Finance from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 7th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Horizon Technology Finance in a research report on Friday, May 8th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price 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.