Horizon Technology Finance Corp (HRZN) Expected to Announce Quarterly Sales of $6.60 Million

Brokerages expect Horizon Technology Finance Corp (NASDAQ:HRZN) to post sales of $6.60 million for the current quarter, according to Zacks. Three analysts have issued estimates for Horizon Technology Finance’s earnings. The lowest sales estimate is $6.39 million and the highest is $6.91 million. Horizon Technology Finance posted sales of $6.99 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 5.6%. The company is scheduled to issue its next earnings report on Tuesday, March 6th.

According to Zacks, analysts expect that Horizon Technology Finance will report full-year sales of $6.60 million for the current financial year, with estimates ranging from $26.00 million to $26.52 million. For the next fiscal year, analysts expect that the firm will post sales of $28.42 million per share, with estimates ranging from $27.00 million to $29.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Horizon Technology Finance.

Horizon Technology Finance (NASDAQ:HRZN) last announced its quarterly earnings results on Tuesday, October 31st. The investment management company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.04. The company had revenue of $6.77 million for the quarter, compared to analyst estimates of $6.39 million. Horizon Technology Finance had a net margin of 24.46% and a return on equity of 9.96%.

Several equities research analysts recently issued reports on the stock. Wells Fargo & Co lowered shares of Horizon Technology Finance from a “market perform” rating to an “underperform” rating in a report on Tuesday, January 9th. ValuEngine raised shares of Horizon Technology Finance from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Raymond James Financial raised shares of Horizon Technology Finance from an “underperform” rating to a “market perform” rating in a report on Thursday, November 2nd. National Securities reaffirmed a “neutral” rating and set a $10.00 price target on shares of Horizon Technology Finance in a report on Tuesday, October 3rd. Finally, Zacks Investment Research lowered shares of Horizon Technology Finance from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Three analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $10.75.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Shelton Capital Management bought a new stake in Horizon Technology Finance during the 3rd quarter worth approximately $244,000. Advisors Asset Management Inc. grew its holdings in Horizon Technology Finance by 8.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 349,600 shares of the investment management company’s stock worth $3,884,000 after acquiring an additional 27,218 shares during the last quarter. WFG Advisors LP grew its holdings in Horizon Technology Finance by 30.8% during the 2nd quarter. WFG Advisors LP now owns 24,950 shares of the investment management company’s stock worth $283,000 after acquiring an additional 5,878 shares during the last quarter. Finally, Royal Bank of Canada grew its holdings in Horizon Technology Finance by 25.8% during the 2nd quarter. Royal Bank of Canada now owns 20,752 shares of the investment management company’s stock worth $235,000 after acquiring an additional 4,252 shares during the last quarter. 17.05% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Horizon Technology Finance (NASDAQ:HRZN) opened at $11.35 on Friday. The stock has a market cap of $130.38, a P/E ratio of 19.91 and a beta of 0.87. Horizon Technology Finance has a 1-year low of $9.66 and a 1-year high of $11.88.

The business also recently declared a monthly dividend, which will be paid on Thursday, February 15th. Investors of record on Monday, January 22nd will be issued a dividend of $0.10 per share. This represents a $1.20 annualized dividend and a dividend yield of 10.57%. The ex-dividend date of this dividend is Friday, January 19th. Horizon Technology Finance’s dividend payout ratio (DPR) is presently 210.53%.

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About Horizon Technology Finance

Horizon Technology Finance Corporation is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objective is to maximize investment portfolio’s total return by generating current income from the debt investments it makes and capital appreciation from the warrants it receives when making such debt investments.

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