Horizon Technology Finance Co. (HRZN) To Go Ex-Dividend on November 15th

Horizon Technology Finance Co. (NASDAQ:HRZN) declared a monthly dividend on Friday, August 2nd,Wall Street Journal reports. Stockholders of record on Friday, November 15th will be given a dividend of 0.11 per share by the investment management company on Friday, December 13th. This represents a $1.32 annualized dividend and a dividend yield of 14.25%. The ex-dividend date of this dividend is Friday, November 15th.

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 103.1% 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 Trading Down 1.4 %

Shares of NASDAQ HRZN opened at $9.26 on Wednesday. The firm’s 50 day moving average price is $10.38 and its 200-day moving average price is $11.25. Horizon Technology Finance has a 52-week low of $9.18 and a 52-week high of $13.73.

Horizon Technology Finance (NASDAQ:HRZN) last issued its earnings results on Tuesday, October 29th. The investment management company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). Horizon Technology Finance had a negative net margin of 3.69% and a positive return on equity of 15.78%. The business had revenue of $24.56 million for the quarter, compared to analysts’ expectations of $25.38 million. During the same quarter in the prior year, the business posted $0.53 earnings per share. As a group, research analysts expect that Horizon Technology Finance will post 1.38 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.