Horizon Technology Finance Co. (HRZN) To Go Ex-Dividend on May 16th

Horizon Technology Finance Co. (NASDAQ:HRZNGet Free Report) declared a monthly dividend on Friday, March 1st, Wall Street Journal reports. Stockholders of record on Friday, May 17th will be given a dividend of 0.11 per share by the investment management company on Friday, June 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 11.11%. The ex-dividend date is Thursday, May 16th.

Horizon Technology Finance has increased its dividend payment by an average of 3.2% annually over the last three years. Horizon Technology Finance has a dividend payout ratio of 93.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Horizon Technology Finance to earn $1.43 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 92.3%.

Horizon Technology Finance Price Performance

HRZN stock opened at $11.88 on Tuesday. The firm has a 50-day moving average price of $11.49 and a 200-day moving average price of $12.32. Horizon Technology Finance has a 12 month low of $10.75 and a 12 month high of $13.73.

Horizon Technology Finance (NASDAQ:HRZNGet Free Report) last issued its quarterly earnings data on Tuesday, February 27th. The investment management company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03). The firm had revenue of $28.18 million for the quarter, compared to the consensus estimate of $29.21 million. Horizon Technology Finance had a positive return on equity of 17.98% and a negative net margin of 12.40%. On average, analysts anticipate that Horizon Technology Finance will post 1.48 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on HRZN shares. UBS Group dropped their target price on shares of Horizon Technology Finance from $11.50 to $10.50 and set a “neutral” rating on the stock in a report on Monday, March 18th. Oppenheimer dropped their price objective on shares of Horizon Technology Finance from $11.00 to $10.00 and set a “market perform” rating on the stock in a report on Friday, March 1st. Finally, LADENBURG THALM/SH SH reiterated a “neutral” rating on shares of Horizon Technology Finance in a report on Wednesday, February 28th. Three analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Horizon Technology Finance presently has an average rating of “Hold” and an average price target of $10.38.

View Our Latest Stock Report on HRZN

Insider Transactions at Horizon Technology Finance

In other Horizon Technology Finance news, President Gerald A. Michaud acquired 3,650 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were bought at an average cost of $11.77 per share, with a total value of $42,960.50. Following the completion of the transaction, the president now directly owns 156,244 shares of the company’s stock, valued at approximately $1,838,991.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.40% of the company’s stock.

About Horizon Technology Finance

(Get Free Report)

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.

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Dividend History for Horizon Technology Finance (NASDAQ:HRZN)

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