Horizon Technology Finance Co. (NASDAQ:HRZN – Get Rating) declared a monthly dividend on Thursday, May 5th, Wall Street Journal reports. Stockholders of record on Friday, June 17th will be paid a dividend of 0.10 per share by the investment management company on Friday, July 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 9.38%. The ex-dividend date is Thursday, June 16th.
Horizon Technology Finance has increased its dividend by an average of 1.4% per year over the last three years. Horizon Technology Finance has a payout ratio of 83.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Horizon Technology Finance to earn $1.41 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 85.1%.
Shares of HRZN stock opened at $12.79 on Friday. The business’s fifty day moving average price is $13.97 and its 200 day moving average price is $15.48. The firm has a market capitalization of $306.70 million, a PE ratio of 10.31 and a beta of 1.01. Horizon Technology Finance has a 1-year low of $11.62 and a 1-year high of $19.08.
Horizon Technology Finance (NASDAQ:HRZN – Get Rating) last issued its earnings results on Tuesday, May 3rd. The investment management company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.03). Horizon Technology Finance had a net margin of 41.45% and a return on equity of 11.85%. During the same quarter in the previous year, the firm earned $0.31 earnings per share. On average, equities research analysts anticipate that Horizon Technology Finance will post 1.35 earnings per share for the current year.
Large investors have recently made changes to their positions in the business. Invesco Ltd. increased its stake in shares of Horizon Technology Finance by 8.3% in the fourth quarter. Invesco Ltd. now owns 57,891 shares of the investment management company’s stock worth $922,000 after buying an additional 4,443 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Horizon Technology Finance in the 4th quarter worth about $702,000. Morgan Stanley boosted its holdings in shares of Horizon Technology Finance by 36.5% in the 2nd quarter. Morgan Stanley now owns 35,523 shares of the investment management company’s stock valued at $614,000 after buying an additional 9,507 shares during the period. LPL Financial LLC grew its position in shares of Horizon Technology Finance by 11.8% during the 4th quarter. LPL Financial LLC now owns 18,894 shares of the investment management company’s stock valued at $301,000 after buying an additional 2,000 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. acquired a new stake in Horizon Technology Finance during the fourth quarter worth about $290,000. Institutional investors own 11.30% of the company’s stock.
Several analysts have weighed in on the company. StockNews.com assumed coverage on Horizon Technology Finance in a report on Thursday, March 31st. They issued a “sell” rating on the stock. Zacks Investment Research cut shares of Horizon Technology Finance from a “buy” rating to a “hold” rating in a research report on Friday, March 4th. Finally, Compass Point upgraded shares of Horizon Technology Finance from a “sell” rating to a “neutral” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.25.
Horizon Technology Finance Company Profile (Get Rating)
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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