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

Horizon Technology Finance Co. (NASDAQ:HRZN) announced a dividend on Wednesday, April 16th, investing.com reports. Stockholders of record on Thursday, April 17th will be paid a dividend of 0.11 per share by the investment management company on Thursday, May 15th. This represents a dividend yield of 16.34%. The ex-dividend date is Wednesday, April 16th.

Horizon Technology Finance has raised its dividend by an average of 3.2% per year over the last three years. Horizon Technology Finance has a dividend payout ratio of 107.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Stock Down 3.5 %

HRZN stock traded down $0.29 during trading on Wednesday, hitting $8.08. The company had a trading volume of 442,061 shares, compared to its average volume of 350,902. Horizon Technology Finance has a 52-week low of $7.55 and a 52-week high of $12.63. The company has a 50 day simple moving average of $9.20 and a 200-day simple moving average of $9.40. The firm has a market capitalization of $325.75 million, a P/E ratio of -67.33 and a beta of 1.08.

Horizon Technology Finance (NASDAQ:HRZN) last issued its earnings results on Tuesday, March 4th. The investment management company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.06). The company had revenue of $23.55 million for the quarter, compared to analysts’ expectations of $25.69 million. Horizon Technology Finance had a positive return on equity of 15.78% and a negative net margin of 3.69%. Sell-side analysts forecast that Horizon Technology Finance will post 1.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Compass Point raised Horizon Technology Finance from a “sell” rating to a “neutral” rating and set a $8.25 target price for the company in a research report on Tuesday, December 17th. Maxim Group lowered their price objective on shares of Horizon Technology Finance from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Monday, March 10th. StockNews.com downgraded shares of Horizon Technology Finance from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Horizon Technology Finance from $8.00 to $7.50 and set an “underperform” rating for the company in a research report on Tuesday, April 8th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $9.44.

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, cleantech and sustainability industries.