Horizon Technology Finance Corp (NASDAQ:HRZN) announced a monthly dividend on Thursday, July 30th, Wall Street Journal reports. Shareholders of record on Tuesday, October 20th will be given a dividend of 0.10 per share by the investment management company on Monday, November 16th. This represents a $1.20 annualized dividend and a yield of 10.24%. The ex-dividend date of this dividend is Monday, October 19th.
Horizon Technology Finance has decreased its dividend by an average of 12.1% per year over the last three years. Horizon Technology Finance has a dividend payout ratio of 104.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Horizon Technology Finance to earn $1.23 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 97.6%.
Horizon Technology Finance stock opened at $11.72 on Friday. The business’s 50-day simple moving average is $11.27 and its two-hundred day simple moving average is $10.91. The company has a market cap of $201.99 million, a PE ratio of 7.74 and a beta of 1.08. Horizon Technology Finance has a fifty-two week low of $4.51 and a fifty-two week high of $13.78.
Horizon Technology Finance (NASDAQ:HRZN) last posted its quarterly earnings results on Tuesday, July 28th. The investment management company reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.12. The business had revenue of $13.52 million for the quarter, compared to the consensus estimate of $11.08 million. Horizon Technology Finance had a return on equity of 12.43% and a net margin of 39.91%. Analysts expect that Horizon Technology Finance will post 1.13 EPS for the current fiscal year.
HRZN has been the topic of a number of recent research reports. Maxim Group restated a “buy” rating and issued a $12.00 target price on shares of Horizon Technology Finance in a research note on Tuesday, May 5th. ValuEngine downgraded Horizon Technology Finance from a “sell” rating to a “strong sell” rating in a research note on Friday, May 1st. Zacks Investment Research upgraded Horizon Technology Finance from a “sell” rating to a “hold” rating in a research note on Wednesday, July 1st. B. Riley upped their target price on Horizon Technology Finance from $8.50 to $9.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Finally, Aegis lowered their target price on Horizon Technology Finance from $13.20 to $10.50 and set a “buy” rating on the stock in a research note on Thursday, April 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Horizon Technology Finance presently has a consensus rating of “Hold” and an average target price of $11.00.
In other Horizon Technology Finance news, President Gerald A. Michaud purchased 14,900 shares of the stock in a transaction on Tuesday, June 2nd. The shares were bought at an average price of $11.70 per share, for a total transaction of $174,330.00. Also, CEO Robert D. Jr. Pomeroy purchased 10,000 shares of the stock in a transaction on Thursday, June 4th. The shares were acquired at an average price of $11.69 per share, for a total transaction of $116,900.00. Corporate insiders own 1.60% 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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