This story originally appeared on Zacks
Horizon Technology Finance (HRZN) closed at $15.89 in the latest trading session, marking a +0.44% move from the prior day. This move outpaced the S&P 500’s daily loss of 0.72%. Meanwhile, the Dow lost 0.68%, and the Nasdaq, a tech-heavy index, lost 0.67%.
Prior to today’s trading, shares of the investment company had gained 1.22% over the past month. This has outpaced the Finance sector’s loss of 4.1% and the S&P 500’s loss of 5.92% in that time.
Horizon Technology Finance will be looking to display strength as it nears its next earnings release. On that day, Horizon Technology Finance is projected to report earnings of $0.33 per share, which would represent year-over-year growth of 57.14%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $14.77 million, up 46.67% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Horizon Technology Finance. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Horizon Technology Finance currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Horizon Technology Finance is holding a Forward P/E ratio of 11.59. Its industry sports an average Forward P/E of 11.38, so we one might conclude that Horizon Technology Finance is trading at a premium comparatively.
The Financial – SBIC & Commercial Industry industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 77, which puts it in the top 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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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