Zacks: Brokerages Expect Horizon Technology Finance Corp (HRZN) Will Announce Earnings of $0.26 Per Share

Wall Street brokerages predict that Horizon Technology Finance Corp (NASDAQ:HRZN) will announce earnings of $0.26 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Horizon Technology Finance’s earnings. The lowest EPS estimate is $0.24 and the highest is $0.27. Horizon Technology Finance posted earnings per share of $0.33 during the same quarter last year, which indicates a negative year-over-year growth rate of 21.2%. The business is scheduled to announce its next earnings report on Tuesday, March 6th.

On average, analysts expect that Horizon Technology Finance will report full-year earnings of $1.12 per share for the current fiscal year, with EPS estimates ranging from $1.10 to $1.13. For the next fiscal year, analysts forecast that the business will post earnings of $1.09 per share, with EPS estimates ranging from $0.94 to $1.19. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Horizon Technology Finance.

A number of analysts recently issued reports on HRZN shares. Wells Fargo & Co downgraded Horizon Technology Finance from a “market perform” rating to an “underperform” rating in a research report on Tuesday, January 9th. Raymond James Financial raised Horizon Technology Finance from an “underperform” rating to a “market perform” rating in a research report on Thursday, November 2nd. National Securities reaffirmed a “sell” rating and issued a $10.00 target price on shares of Horizon Technology Finance in a research report on Thursday, November 2nd. Zacks Investment Research raised Horizon Technology Finance from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Finally, TheStreet raised Horizon Technology Finance from a “c” rating to a “b-” rating in a research report on Wednesday, November 1st. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $10.75.

Horizon Technology Finance (HRZN) traded up $0.06 during trading hours on Friday, hitting $10.82. The company had a trading volume of 117,410 shares, compared to its average volume of 82,867. The firm has a market capitalization of $123.47, a P/E ratio of 18.98 and a beta of 0.81. Horizon Technology Finance has a twelve month low of $9.66 and a twelve month high of $11.88.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada increased its position in Horizon Technology Finance by 25.8% during the second quarter. Royal Bank of Canada now owns 20,752 shares of the investment management company’s stock worth $235,000 after buying an additional 4,252 shares during the last quarter. WFG Advisors LP increased its position in Horizon Technology Finance by 30.8% during the second quarter. WFG Advisors LP now owns 24,950 shares of the investment management company’s stock worth $283,000 after buying an additional 5,878 shares during the last quarter. Shelton Capital Management increased its position in Horizon Technology Finance by 59.1% during the fourth quarter. Shelton Capital Management now owns 35,000 shares of the investment management company’s stock worth $393,000 after buying an additional 13,000 shares during the last quarter. Kovack Advisors Inc. acquired a new position in Horizon Technology Finance during the fourth quarter worth approximately $260,000. Finally, Advisors Asset Management Inc. increased its position in Horizon Technology Finance by 8.4% during the third quarter. Advisors Asset Management Inc. now owns 349,600 shares of the investment management company’s stock worth $3,884,000 after buying an additional 27,218 shares during the last quarter. 17.05% of the stock is currently owned by hedge funds and other institutional investors.

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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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