Wall Street analysts expect NEWTEK Business Services Corp (NASDAQ:NEWT) to post earnings of $0.41 per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for NEWTEK Business Services’ earnings. The highest EPS estimate is $0.42 and the lowest is $0.39. NEWTEK Business Services also posted earnings per share of $0.41 in the same quarter last year. The company is scheduled to announce its next quarterly earnings results on Wednesday, August 1st.
On average, analysts expect that NEWTEK Business Services will report full year earnings of $1.87 per share for the current year, with EPS estimates ranging from $1.83 to $1.91. For the next fiscal year, analysts anticipate that the business will report earnings of $2.00 per share, with EPS estimates ranging from $1.91 to $2.09. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that cover NEWTEK Business Services.
NEWTEK Business Services (NASDAQ:NEWT) last posted its quarterly earnings data on Wednesday, May 2nd. The business services provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.06. The firm had revenue of $11.07 million for the quarter, compared to analysts’ expectations of $10.72 million. NEWTEK Business Services had a return on equity of 8.74% and a net margin of 107.67%.
Several research firms have weighed in on NEWT. Raymond James cut NEWTEK Business Services from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 5th. BidaskClub raised NEWTEK Business Services from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 31st. Zacks Investment Research raised NEWTEK Business Services from a “sell” rating to a “hold” rating in a research report on Wednesday, May 9th. Finally, Keefe, Bruyette & Woods set a $19.00 price target on NEWTEK Business Services and gave the company a “hold” rating in a research report on Tuesday, March 6th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. NEWTEK Business Services currently has an average rating of “Hold” and an average target price of $19.00.
NEWTEK Business Services opened at $19.82 on Friday, Marketbeat Ratings reports. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.24. NEWTEK Business Services has a fifty-two week low of $15.68 and a fifty-two week high of $20.76. The firm has a market cap of $373.35 million, a price-to-earnings ratio of 11.20, a PEG ratio of 3.55 and a beta of 1.11.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 8.48%. The ex-dividend date is Thursday, June 14th. This is a boost from NEWTEK Business Services’s previous quarterly dividend of $0.40. NEWTEK Business Services’s dividend payout ratio is currently 94.92%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Macquarie Group Ltd. bought a new stake in shares of NEWTEK Business Services during the 4th quarter valued at $120,000. IFP Advisors Inc increased its stake in NEWTEK Business Services by 558.8% in the 1st quarter. IFP Advisors Inc now owns 7,280 shares of the business services provider’s stock worth $132,000 after acquiring an additional 6,175 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in NEWTEK Business Services in the 1st quarter worth about $182,000. Millennium Management LLC bought a new position in NEWTEK Business Services in the 1st quarter worth about $217,000. Finally, Quadrature Capital Ltd bought a new position in NEWTEK Business Services in the 4th quarter worth about $246,000. 21.63% of the stock is currently owned by hedge funds and other institutional investors.
About NEWTEK Business Services
Newtek Business Services Corp. is a business development company specializing in providing financial and business services to the small-and medium-sized business market in the United States. The firm also seeks to invest in early stage businesses. The firm seeks to makes both debt and equity investments.
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