Horizon Technology Finance Corp (HRZN) Plans Dividend of $0.10

Horizon Technology Finance Corp (NASDAQ:HRZN) declared a dividend on Friday, July 27th, NASDAQ reports. Shareholders of record on Monday, November 19th will be given a dividend of 0.10 per share by the investment management company on Friday, December 14th. The ex-dividend date of this dividend is Friday, November 16th.

Horizon Technology Finance has decreased its dividend payment by an average of 4.6% per year over the last three years. Horizon Technology Finance has a dividend 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. 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 HRZN stock opened at $11.83 on Friday. Horizon Technology Finance has a 1 year low of $9.92 and a 1 year high of $11.97. The company has a market cap of $135.62 million, a PE ratio of 11.06 and a beta of 0.83.

Horizon Technology Finance (NASDAQ:HRZN) last announced its earnings results on Tuesday, October 30th. The investment management company reported $0.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.01. Horizon Technology Finance had a net margin of 43.19% and a return on equity of 9.14%. The company had revenue of $7.80 million for the quarter, compared to analyst estimates of $7.70 million. Research analysts anticipate that Horizon Technology Finance will post 1.2 EPS for the current fiscal year.

A number of brokerages have recently issued reports on HRZN. Zacks Investment Research upgraded shares of Horizon Technology Finance from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research report on Saturday, November 3rd. National Securities reiterated a “neutral” rating and set a $11.00 target price on shares of Horizon Technology Finance in a research report on Friday, November 2nd. Keefe, Bruyette & Woods lowered shares of Horizon Technology Finance from a “market perform” rating to an “underperform” rating and reduced their target price for the stock from $10.50 to $10.00 in a research report on Sunday, October 21st. Finally, Compass Point lowered shares of Horizon Technology Finance from a “neutral” rating to a “sell” rating in a research report on Wednesday, August 1st. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $11.50.

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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, and cleantech industries.

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Dividend History for Horizon Technology Finance (NASDAQ:HRZN)

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