Horizon Technology Finance Co. (HRZN) to Issue Monthly Dividend of $0.11 on September 13th

Horizon Technology Finance Co. (NASDAQ:HRZN) declared a monthly dividend on Monday, May 6th, Wall Street Journal reports. Investors of record on Friday, August 16th will be given a dividend of 0.11 per share by the investment management company on Friday, September 13th. This represents a $1.32 annualized dividend and a yield of 11.21%. The ex-dividend date of this dividend is Friday, August 16th.

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 dividend 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. Research 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 Trading Up 0.1 %

HRZN opened at $11.78 on Wednesday. Horizon Technology Finance has a twelve month low of $10.75 and a twelve month high of $13.73. The firm has a market cap of $412.54 million, a price-to-earnings ratio of -28.05 and a beta of 1.19. The company has a fifty day simple moving average of $11.51 and a 200 day simple moving average of $12.30.

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Horizon Technology Finance news, President Gerald A. Michaud purchased 3,650 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were bought at an average price of $11.77 per share, with a total value of $42,960.50. Following the completion of the acquisition, the president now owns 156,244 shares in the company, valued at approximately $1,838,991.88. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.40% 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, cleantech and sustainability industries.