Horizon Technology Finance Co. Declares Monthly Dividend of $0.11 (NASDAQ:HRZN)

Horizon Technology Finance Co. (NASDAQ:HRZN) announced a monthly dividend on Friday, August 2nd,Wall Street Journal reports. Investors of record on Friday, November 15th will be paid a dividend of 0.11 per share by the investment management company on Friday, December 13th. This represents a $1.32 annualized dividend and a yield of 14.15%. The ex-dividend date of this dividend is Friday, November 15th.

Horizon Technology Finance has increased its dividend payment by an average of 3.2% annually over the last three years. Horizon Technology Finance has a dividend payout ratio of 103.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Horizon Technology Finance to earn $1.26 per share next year, which means the company may not be able to cover its $1.32 annual dividend with an expected future payout ratio of 104.8%.

Horizon Technology Finance Price Performance

Shares of NASDAQ:HRZN opened at $9.33 on Thursday. The company’s fifty day moving average price is $10.34 and its 200 day moving average price is $11.24. Horizon Technology Finance has a 12 month low of $9.18 and a 12 month high of $13.73. The firm has a market capitalization of $355.10 million, a P/E ratio of -77.75 and a beta of 1.24.

Horizon Technology Finance (NASDAQ:HRZN) last announced its quarterly earnings results on Tuesday, October 29th. The investment management company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). The company had revenue of $24.56 million for the quarter, compared to analyst estimates of $25.38 million. Horizon Technology Finance had a positive return on equity of 15.78% and a negative net margin of 3.69%. During the same quarter in the prior year, the business earned $0.53 earnings per share. On average, sell-side analysts anticipate that Horizon Technology Finance will post 1.38 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HRZN. Keefe, Bruyette & Woods dropped their price objective on shares of Horizon Technology Finance from $9.50 to $9.00 and set an “underperform” rating on the stock in a research note on Thursday, August 1st. B. Riley restated a “sell” rating and issued a $9.00 price objective (down from $10.00) on shares of Horizon Technology Finance in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $9.63.

Horizon Technology Finance Company Profile

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, cleantech and sustainability industries.