NEWTEK Business Services Corp (NASDAQ:NEWT) has earned an average recommendation of “Hold” from the seven brokerages that are covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $19.00.
NEWT has been the subject of a number of research reports. ValuEngine upgraded shares of NEWTEK Business Services from a “hold” rating to a “buy” rating in a research report on Saturday, November 10th. Zacks Investment Research lowered shares of NEWTEK Business Services from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 17th. BidaskClub upgraded shares of NEWTEK Business Services from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. Raymond James lowered shares of NEWTEK Business Services from a “market perform” rating to an “underperform” rating in a research report on Tuesday, August 28th. Finally, Compass Point set a $19.00 target price on shares of NEWTEK Business Services and gave the stock a “hold” rating in a research report on Thursday, November 8th.
Hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC bought a new position in shares of NEWTEK Business Services in the first quarter valued at approximately $217,000. JPMorgan Chase & Co. boosted its position in shares of NEWTEK Business Services by 197.6% in the third quarter. JPMorgan Chase & Co. now owns 11,503 shares of the business services provider’s stock valued at $241,000 after acquiring an additional 7,638 shares during the period. Virtu Financial LLC bought a new position in shares of NEWTEK Business Services in the third quarter valued at approximately $378,000. Captrust Financial Advisors bought a new position in shares of NEWTEK Business Services in the second quarter valued at approximately $389,000. Finally, GSA Capital Partners LLP bought a new position in shares of NEWTEK Business Services in the second quarter valued at approximately $430,000. Institutional investors own 20.71% of the company’s stock.
Shares of NASDAQ:NEWT opened at $20.01 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.38 and a quick ratio of 0.38. The stock has a market cap of $383.44 million, a price-to-earnings ratio of 11.31, a price-to-earnings-growth ratio of 3.55 and a beta of 1.41. NEWTEK Business Services has a twelve month low of $16.07 and a twelve month high of $24.24.
NEWTEK Business Services (NASDAQ:NEWT) last issued its earnings results on Wednesday, November 7th. The business services provider reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. The firm had revenue of $12.39 million during the quarter, compared to analyst estimates of $11.85 million. NEWTEK Business Services had a net margin of 102.01% and a return on equity of 8.51%. Analysts predict that NEWTEK Business Services will post 1.9 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Tuesday, December 18th will be given a $0.50 dividend. This is a positive change from NEWTEK Business Services’s previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a dividend yield of 10.00%. The ex-dividend date of this dividend is Monday, December 17th. NEWTEK Business Services’s dividend payout ratio (DPR) is 108.47%.
NEWTEK Business Services Company Profile
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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