Horizon Technology Finance Co. (HRZN) To Go Ex-Dividend on February 18th

Horizon Technology Finance Co. (NASDAQ:HRZN) declared a monthly dividend on Friday, November 1st, Wall Street Journal reports. Shareholders of record on Tuesday, February 18th will be paid a dividend of 0.11 per share by the investment management company on Friday, March 14th. This represents a $1.32 dividend on an annualized basis and a yield of 13.98%. The ex-dividend date is Tuesday, February 18th.

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 99.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Horizon Technology Finance to earn $1.28 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 103.1%.

Horizon Technology Finance Stock Down 2.2 %

Shares of NASDAQ HRZN opened at $9.44 on Friday. Horizon Technology Finance has a one year low of $9.30 and a one year high of $13.73. The business’s fifty day moving average price is $10.61 and its 200-day moving average price is $11.36.

Horizon Technology Finance (NASDAQ:HRZN) last issued its quarterly earnings data on Tuesday, October 29th. The investment management company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The company had revenue of $24.56 million for the quarter, compared to analysts’ expectations of $25.38 million. Horizon Technology Finance had a positive return on equity of 15.78% and a negative net margin of 3.69%. During the same period last year, the company posted $0.53 EPS. As a group, equities analysts anticipate that Horizon Technology Finance will post 1.21 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on HRZN. Keefe, Bruyette & Woods reduced their price objective on Horizon Technology Finance from $9.50 to $9.00 and set an “underperform” rating on the stock in a research report on Thursday, August 1st. B. Riley reiterated a “sell” rating and set a $9.00 price objective (down from $10.00) on shares of Horizon Technology Finance in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $9.63.

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.