Horizon Technology Finance (HRZN) Gains As Market Dips: What You Should Know
In the latest trading session, Horizon Technology Finance (HRZN) closed at $13.07, marking a +1.08% move from the previous day. This move outpaced the S&P 500's daily loss of 0.02%. Elsewhere, the Dow gained 0.23%, while the tech-heavy Nasdaq lost 0.12%.
Coming into today, shares of the investment company had gained 9.58% in the past month. In that same time, the Finance sector gained 7.54%, while the S&P 500 gained 5.14%.
Horizon Technology Finance will be looking to display strength as it nears its next earnings release, which is expected to be August 1, 2023. On that day, Horizon Technology Finance is projected to report earnings of $0.43 per share, which would represent year-over-year growth of 22.86%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $26.23 million, up 41.12% from the year-ago period.
HRZN's full-year Zacks Consensus Estimates are calling for earnings of $1.69 per share and revenue of $108.16 million. These results would represent year-over-year changes of +15.75% and +36.58%, respectively.
Investors might also notice recent changes to analyst estimates for Horizon Technology Finance. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Horizon Technology Finance is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Horizon Technology Finance's current valuation metrics, including its Forward P/E ratio of 7.66. For comparison, its industry has an average Forward P/E of 7.4, which means Horizon Technology Finance is trading at a premium to the group.
The Financial - SBIC & Commercial Industry industry is part of the Finance sector. This group has a Zacks Industry Rank of 93, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow HRZN in the coming trading sessions, be sure to utilize Zacks.com.
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Horizon Technology Finance Corporation (HRZN) : Free Stock Analysis Report
