Horizon Technology Finance Corporation (HRZN) To Go Ex-Dividend on October 16th

Horizon Technology Finance Corporation (NASDAQ:HRZN) declared a special dividend on Tuesday, August 4th. Shareholders of record on Friday, October 16th will be given a dividend of 0.03 per share by the investment management company on Monday, November 16th. This represents a yield of 822.0%. The ex-dividend date is Friday, October 16th.

Horizon Technology Finance has increased its dividend by an average of 0.0%per year over the last three years. Horizon Technology Finance has a payout ratio of 62.6% indicating that its dividend is sufficiently covered by earnings. 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 Stock Down 3.7%

HRZN opened at $4.38 on Thursday. Horizon Technology Finance has a 52 week low of $3.80 and a 52 week high of $7.76. The business has a fifty day simple moving average of $4.49 and a 200-day simple moving average of $4.86. The firm has a market cap of $298.98 million, a P/E ratio of 12.17 and a beta of 0.98.

Horizon Technology Finance (NASDAQ:HRZN) last posted its quarterly earnings data on Tuesday, August 4th. The investment management company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.02). The firm had revenue of ($44.66) million during the quarter, compared to analysts’ expectations of $25.22 million. Horizon Technology Finance had a net margin of 5.27% and a return on equity of 11.96%. Sell-side analysts expect that Horizon Technology Finance will post 0.69 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on HRZN. Zacks Research raised Horizon Technology Finance from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 7th. UBS Group reduced their price target on shares of Horizon Technology Finance from $4.50 to $4.25 and set a “neutral” rating on the stock in a research report on Monday, May 18th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Horizon Technology Finance in a research note on Friday, May 8th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $5.65.

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.