NewtekOne (NASDAQ:NEWT) Updates FY 2024 Earnings Guidance

NewtekOne (NASDAQ:NEWT) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 1.850-2.050 for the period, compared to the consensus earnings per share estimate of 1.840. The company issued revenue guidance of -.

NewtekOne Stock Up 11.3 %

Shares of NASDAQ:NEWT traded up $1.25 during trading on Tuesday, hitting $12.33. 386,307 shares of the company were exchanged, compared to its average volume of 141,265. NewtekOne has a fifty-two week low of $10.07 and a fifty-two week high of $19.36. The stock has a market cap of $316.14 million, a price-to-earnings ratio of 7.65 and a beta of 1.23. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 4.83. The firm has a fifty day moving average price of $11.19 and a two-hundred day moving average price of $12.51.

NewtekOne (NASDAQ:NEWT) last released its quarterly earnings data on Wednesday, March 6th. The business services provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.05). The firm had revenue of $75.60 million for the quarter, compared to analyst estimates of $62.99 million. NewtekOne had a return on equity of 20.04% and a net margin of 15.19%. During the same quarter in the prior year, the firm earned $0.06 earnings per share. As a group, research analysts anticipate that NewtekOne will post 1.83 earnings per share for the current fiscal year.

NewtekOne Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a dividend of $0.19 per share. The ex-dividend date was Thursday, March 28th. This is a positive change from NewtekOne’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a dividend yield of 6.16%. NewtekOne’s payout ratio is presently 46.91%.

Analyst Ratings Changes

NEWT has been the subject of a number of research analyst reports. Piper Sandler reduced their price objective on shares of NewtekOne from $13.00 to $11.00 and set a neutral rating for the company in a research report on Monday, March 18th. Keefe, Bruyette & Woods lowered their price target on shares of NewtekOne from $16.00 to $13.00 and set a market perform rating on the stock in a report on Wednesday, March 20th. B. Riley restated a buy rating and set a $18.00 price objective (down from $19.00) on shares of NewtekOne in a research report on Thursday, March 7th. Finally, StockNews.com downgraded NewtekOne from a hold rating to a sell rating in a research report on Friday, April 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $14.50.

NewtekOne Company Profile

NewtekOne, Inc operates as the bank holding company for Newtek Bank, National Association that engages in the provision of various business and financial solutions under the Newtek brand name to the small- and medium-sized business market. The company accepts demand, savings, NOW, money market, and time deposits; and provides loans including SBA loans, commercial and industrial loans, and commercial real estate loans.