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

Horizon Technology Finance Co. (NASDAQ:HRZN) declared a monthly dividend on Monday, May 6th, Wall Street Journal reports. Shareholders of record on Wednesday, July 17th will be paid a dividend of 0.11 per share by the investment management company on Thursday, August 15th. This represents a $1.32 annualized dividend and a yield of 11.18%. The ex-dividend date is Wednesday, July 17th.

Horizon Technology Finance has raised its dividend payment by an average of 3.2% annually over the last three years. Horizon Technology Finance has a payout ratio of 93.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Horizon Technology Finance to earn $1.43 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 92.3%.

Horizon Technology Finance Stock Performance

HRZN stock opened at $11.81 on Monday. The company has a market capitalization of $413.59 million, a price-to-earnings ratio of -28.12 and a beta of 1.19. The stock has a fifty day moving average of $11.56 and a 200-day moving average of $12.30. Horizon Technology Finance has a fifty-two week low of $10.75 and a fifty-two week high of $13.73.

Horizon Technology Finance (NASDAQ:HRZN) last posted its quarterly earnings data on Tuesday, February 27th. The investment management company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). Horizon Technology Finance had a positive return on equity of 17.98% and a negative net margin of 12.40%. The company had revenue of $28.18 million for the quarter, compared to the consensus estimate of $29.21 million. Equities analysts predict that Horizon Technology Finance will post 1.5 EPS for the current year.

Insider Transactions at Horizon Technology Finance

In other Horizon Technology Finance news, President Gerald A. Michaud acquired 3,650 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was bought at an average cost of $11.77 per share, for a total transaction of $42,960.50. Following the completion of the purchase, the president now directly owns 156,244 shares in the company, valued at $1,838,991.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on HRZN. LADENBURG THALM/SH SH reaffirmed a “neutral” rating on shares of Horizon Technology Finance in a research report on Wednesday, February 28th. Oppenheimer decreased their target price on Horizon Technology Finance from $11.00 to $10.00 and set a “market perform” rating on the stock in a research note on Friday, March 1st. B. Riley cut shares of Horizon Technology Finance from a “neutral” rating to a “sell” rating and set a $11.00 price target on the stock. in a research report on Monday, January 8th. Finally, UBS Group lowered their price target on Horizon Technology Finance from $11.50 to $10.50 and set a “neutral” rating for the company in a research report on Monday, March 18th. Three equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $10.38.

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.