Horizon Technology Finance Corporation (NASDAQ:HRZN) Announces Dividend of $0.03

Horizon Technology Finance Corporation (NASDAQ:HRZN) declared a dividend on Tuesday, May 5th. Stockholders of record on Thursday, July 16th will be paid a dividend of 0.03 per share by the investment management company on Friday, August 14th. The ex-dividend date is Thursday, July 16th.

Horizon Technology Finance has increased its dividend payment by an average of 0.0%annually over the last three years. Horizon Technology Finance has a payout ratio of 62.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Horizon Technology Finance to earn $0.81 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 88.9%.

Horizon Technology Finance Trading Up 2.4%

HRZN stock opened at $4.33 on Wednesday. Horizon Technology Finance has a 1-year low of $3.80 and a 1-year high of $8.46. The business’s 50 day simple moving average is $4.55 and its 200 day simple moving average is $5.82. The firm has a market capitalization of $207.02 million, a PE ratio of -27.06 and a beta of 0.99.

Horizon Technology Finance (NASDAQ:HRZN) last announced its quarterly earnings results on Tuesday, May 5th. The investment management company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. Horizon Technology Finance had a positive return on equity of 14.52% and a negative net margin of 2.77%.The business had revenue of ($6.19) million during the quarter, compared to the consensus estimate of $21.09 million. As a group, sell-side analysts predict that Horizon Technology Finance will post 0.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

HRZN has been the subject of a number of research reports. Weiss Ratings restated a “sell (d)” rating on shares of Horizon Technology Finance in a research note on Thursday, January 22nd. Wall Street Zen lowered shares of Horizon Technology Finance from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Oppenheimer lowered their price target on shares of Horizon Technology Finance from $7.00 to $6.00 and set a “market perform” rating on the stock in a report on Tuesday, March 24th. Zacks Research downgraded shares of Horizon Technology Finance from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 5th. Finally, B. Riley Financial reduced their price objective on Horizon Technology Finance from $7.00 to $5.50 and set a “neutral” rating for the company in a report on Friday, March 6th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Horizon Technology Finance presently has an average rating of “Reduce” and an average price target of $6.10.

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.