$11.08 Million in Sales Expected for Horizon Technology Finance Corp (NASDAQ:HRZN) This Quarter

Wall Street brokerages forecast that Horizon Technology Finance Corp (NASDAQ:HRZN) will report sales of $11.08 million for the current quarter, according to Zacks. Two analysts have provided estimates for Horizon Technology Finance’s earnings, with estimates ranging from $10.81 million to $11.34 million. Horizon Technology Finance reported sales of $10.47 million during the same quarter last year, which indicates a positive year-over-year growth rate of 5.8%. The firm is expected to report its next quarterly earnings results on Tuesday, August 4th.

According to Zacks, analysts expect that Horizon Technology Finance will report full-year sales of $44.08 million for the current year, with estimates ranging from $43.47 million to $44.68 million. For the next financial year, analysts anticipate that the company will post sales of $47.76 million, with estimates ranging from $45.62 million to $49.91 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Horizon Technology Finance.

Horizon Technology Finance (NASDAQ:HRZN) last announced its quarterly earnings results on Tuesday, April 28th. The investment management company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.07). The firm had revenue of $10.11 million during the quarter, compared to the consensus estimate of $11.05 million. Horizon Technology Finance had a return on equity of 12.25% and a net margin of 35.08%.

HRZN has been the subject of a number of research analyst reports. B. Riley increased their price target on Horizon Technology Finance from $8.50 to $9.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. ValuEngine lowered Horizon Technology Finance from a “sell” rating to a “strong sell” rating in a report on Friday, May 1st. Maxim Group reissued a “buy” rating and set a $12.00 price objective on shares of Horizon Technology Finance in a report on Tuesday, May 5th. TheStreet lowered Horizon Technology Finance from a “b-” rating to a “c” rating in a report on Tuesday, March 24th. Finally, Keefe, Bruyette & Woods raised Horizon Technology Finance from an “underperform” rating to a “market perform” rating and set a $10.00 price objective for the company in a report on Tuesday, March 31st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $11.00.

Shares of HRZN traded up $0.07 on Monday, reaching $10.88. 97,785 shares of the company’s stock traded hands, compared to its average volume of 245,379. The stock has a market cap of $183.77 million, a PE ratio of 9.65 and a beta of 1.10. The stock’s 50 day simple moving average is $10.80 and its two-hundred day simple moving average is $11.15. Horizon Technology Finance has a 52-week low of $4.51 and a 52-week high of $13.78.

The company also recently declared a monthly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, August 18th will be given a dividend of $0.10 per share. The ex-dividend date is Monday, August 17th. This represents a $1.20 dividend on an annualized basis and a yield of 11.03%. Horizon Technology Finance’s payout ratio is 78.95%.

In related news, President Gerald A. Michaud acquired 14,900 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were purchased at an average price of $11.70 per share, for a total transaction of $174,330.00. Also, CEO Robert D. Jr. Pomeroy acquired 10,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was bought at an average price of $11.69 per share, for a total transaction of $116,900.00. Insiders have acquired 31,400 shares of company stock worth $346,025 in the last 90 days. Company insiders own 1.60% of the company’s stock.

A number of large investors have recently made changes to their positions in HRZN. Marshall Wace North America L.P. purchased a new position in Horizon Technology Finance during the 1st quarter valued at about $62,000. California Public Employees Retirement System increased its holdings in Horizon Technology Finance by 8.8% during the 4th quarter. California Public Employees Retirement System now owns 21,000 shares of the investment management company’s stock valued at $272,000 after purchasing an additional 1,700 shares during the period. Great West Life Assurance Co. Can purchased a new position in Horizon Technology Finance during the 4th quarter valued at about $57,000. Raymond James & Associates purchased a new position in Horizon Technology Finance during the 4th quarter valued at about $133,000. Finally, Virtus ETF Advisers LLC increased its holdings in Horizon Technology Finance by 2.2% during the 4th quarter. Virtus ETF Advisers LLC now owns 172,780 shares of the investment management company’s stock valued at $2,234,000 after purchasing an additional 3,767 shares during the period. Institutional investors own 9.16% of the company’s stock.

About Horizon Technology Finance

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, and cleantech industries.

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Earnings History and Estimates for Horizon Technology Finance (NASDAQ:HRZN)

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