Horizon Technology Finance Corp (NASDAQ:HRZN) announced a monthly dividend on Wednesday, October 31st, Wall Street Journal reports. Shareholders of record on Thursday, January 17th will be paid a dividend of 0.10 per share by the investment management company on Friday, February 15th. This represents a $1.20 annualized dividend and a yield of 10.26%. The ex-dividend date of this dividend is Wednesday, January 16th.
Horizon Technology Finance has decreased its dividend payment by an average of 4.6% annually over the last three years. Horizon Technology Finance has a payout ratio of 105.3% 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 research analysts expect Horizon Technology Finance to earn $1.20 per share next year, which means the company may not be able to cover its $1.20 annual dividend with an expected future payout ratio of 100.0%.
Shares of Horizon Technology Finance stock opened at $11.70 on Friday. The company has a market cap of $132.05 million, a P/E ratio of 10.60 and a beta of 0.72. Horizon Technology Finance has a 52 week low of $9.92 and a 52 week high of $12.10.
Horizon Technology Finance (NASDAQ:HRZN) last announced its earnings results on Tuesday, October 30th. The investment management company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.01. The company had revenue of $7.80 million during the quarter, compared to the consensus estimate of $7.70 million. Horizon Technology Finance had a return on equity of 9.14% and a net margin of 43.19%. On average, research analysts expect that Horizon Technology Finance will post 1.2 EPS for the current year.
Several equities research analysts recently weighed in on the company. Zacks Investment Research cut Horizon Technology Finance from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. National Securities reissued a “neutral” rating and issued a $11.00 target price on shares of Horizon Technology Finance in a research note on Friday, November 2nd. Finally, Keefe, Bruyette & Woods cut Horizon Technology Finance from a “market perform” rating to an “underperform” rating and cut their target price for the stock from $10.50 to $10.00 in a research note on Sunday, October 21st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Horizon Technology Finance has an average rating of “Hold” and a consensus target price of $11.50.
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, and cleantech industries.
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