Horizon Technology Finance Corporation (HRZN) To Go Ex-Dividend on January 16th

Horizon Technology Finance Corporation (NASDAQ:HRZN) declared a monthly dividend on Wednesday, October 22nd. Shareholders of record on Friday, January 16th will be paid a dividend of 0.11 per share by the investment management company on Friday, February 13th. This represents a c) dividend on an annualized basis and a dividend yield of 19.8%. The ex-dividend date of this dividend is Friday, January 16th.

Horizon Technology Finance has raised its dividend payment by an average of 0.0%per year over the last three years. Horizon Technology Finance has a payout ratio of 114.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Trading Up 0.6%

Shares of Horizon Technology Finance stock opened at $6.66 on Wednesday. The stock has a market capitalization of $295.59 million, a price-to-earnings ratio of -9.94 and a beta of 0.98. The firm’s 50-day moving average price is $6.56 and its two-hundred day moving average price is $6.82. Horizon Technology Finance has a 1-year low of $5.70 and a 1-year high of $9.99.

Horizon Technology Finance (NASDAQ:HRZN) last posted its earnings results on Tuesday, October 28th. The investment management company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.03. The company had revenue of $26.32 million during the quarter, compared to analysts’ expectations of $22.99 million. Horizon Technology Finance had a negative net margin of 24.19% and a positive return on equity of 15.01%. As a group, equities research analysts predict that Horizon Technology Finance will post 1.38 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on HRZN shares. Weiss Ratings reissued a “sell (d)” rating on shares of Horizon Technology Finance in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Horizon Technology Finance from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Finally, UBS Group raised their price objective on shares of Horizon Technology Finance from $6.25 to $6.50 and gave the company a “neutral” rating in a research report on Wednesday, November 19th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $7.00.

Horizon Technology Finance Company Profile

Horizon Technology Finance Corporation is a specialty finance company organized as a business development company (BDC) that provides private credit solutions to venture capital and private equity-backed technology, life science and healthcare companies. The firm targets companies at various stages of development, offering secured debt financing structures such as first‐lien and second‐lien loans, as well as equity co‐investment opportunities in select portfolio companies.

Horizon Technology Finance’s investment strategy emphasizes deployment of capital in U.S.‐based enterprises with proven technology, strong management teams and clear paths to growth.