Horizon Technology Finance Corporation (HRZN) to Issue Monthly Dividend of $0.06 on March 16th

Horizon Technology Finance Corporation (NASDAQ:HRZN) declared a monthly dividend on Thursday, November 5th. Stockholders of record on Thursday, February 18th will be given a dividend of $0.06 per share by the investment management company on Tuesday, March 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 18.2%. The ex-dividend date is Thursday, February 18th.

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 $0.71 per share next year, which means the company may not be able to cover its $0.72 annual dividend with an expected future payout ratio of 101.4%.

Horizon Technology Finance Stock Performance

Shares of NASDAQ HRZN opened at $3.96 on Friday. The firm has a 50 day moving average price of $4.46 and a two-hundred day moving average price of $4.74. The stock has a market cap of $265.44 million, a P/E ratio of -5.28 and a beta of 1.00. Horizon Technology Finance has a 52-week low of $3.70 and a 52-week high of $6.85.

Horizon Technology Finance (NASDAQ:HRZN) last announced its quarterly earnings data on Thursday, November 5th. The investment management company reported $0.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.18. The firm had revenue of $24.06 million for the quarter, compared to analyst estimates of $25.12 million. Horizon Technology Finance had a net margin of 5.27% and a return on equity of 11.15%. Analysts predict that Horizon Technology Finance will post 0.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HRZN. UBS Group increased their price target on shares of Horizon Technology Finance from $4.25 to $4.50 and gave the company a “neutral” rating in a research note on Tuesday, September 1st. Weiss Ratings downgraded Horizon Technology Finance from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, August 19th. Compass Point began coverage on Horizon Technology Finance in a report on Thursday, August 27th. They set a “buy” rating and a $5.50 price objective for the company. Keefe, Bruyette & Woods lowered their target price on Horizon Technology Finance from $5.00 to $4.50 and set a “market perform” rating on the stock in a report on Friday, August 21st. Finally, Oppenheimer lowered their price target on shares of Horizon Technology Finance from $6.00 to $5.00 and set a “market perform” rating on the stock in a research note on Friday, August 7th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Horizon Technology Finance currently has a consensus rating of “Hold” and a consensus target price of $5.00.

About Horizon Technology Finance

Horizon Technology Finance Corporation (NASDAQ: HRZN) is a specialty finance company that has elected to be regulated as a business development company. It provides secured venture loans to development-stage companies backed by venture capital or private equity investors.

The company primarily finances businesses in the technology, life sciences, healthcare information and sustainability sectors. Its lending solutions are designed to support needs such as product development, commercialization, acquisitions, working capital and other corporate purposes.