Equities analysts forecast that NEWTEK Business Services Corp (NASDAQ:NEWT) will announce earnings per share of $0.38 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for NEWTEK Business Services’ earnings. The highest EPS estimate is $0.41 and the lowest is $0.35. NEWTEK Business Services posted earnings per share of $0.44 in the same quarter last year, which suggests a negative year-over-year growth rate of 13.6%. The company is expected to announce its next earnings results on Wednesday, May 1st.
On average, analysts expect that NEWTEK Business Services will report full-year earnings of $2.05 per share for the current financial year, with EPS estimates ranging from $2.03 to $2.07. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for NEWTEK Business Services.
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NEWTEK Business Services (NASDAQ:NEWT) last announced its quarterly earnings data on Wednesday, March 6th. The business services provider reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.04. The firm had revenue of $14.66 million during the quarter, compared to the consensus estimate of $12.85 million. NEWTEK Business Services had a net margin of 102.01% and a return on equity of 8.51%.
A number of research firms have recently issued reports on NEWT. TheStreet downgraded shares of NEWTEK Business Services from a “b” rating to a “c+” rating in a research report on Monday. Compass Point began coverage on shares of NEWTEK Business Services in a research report on Friday, March 8th. They set a “neutral” rating and a $19.00 price target for the company. BidaskClub upgraded shares of NEWTEK Business Services from a “sell” rating to a “hold” rating in a research report on Monday, February 25th. Zacks Investment Research upgraded shares of NEWTEK Business Services from a “sell” rating to a “hold” rating in a research report on Wednesday, January 16th. Finally, LADENBURG THALM/SH SH upgraded shares of NEWTEK Business Services from a “neutral” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Friday, December 28th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. NEWTEK Business Services has a consensus rating of “Hold” and an average price target of $18.67.
In related news, CEO Barry Sloane purchased 3,000 shares of NEWTEK Business Services stock in a transaction dated Thursday, December 20th. The stock was bought at an average cost of $16.46 per share, for a total transaction of $49,380.00. Following the transaction, the chief executive officer now owns 1,012,911 shares in the company, valued at $16,672,515.06. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders have bought 4,812 shares of company stock valued at $79,679. Insiders own 6.30% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Capital Financial Planning LLC purchased a new position in shares of NEWTEK Business Services during the 4th quarter worth approximately $42,000. Advisory Services Network LLC increased its stake in shares of NEWTEK Business Services by 250.3% during the 4th quarter. Advisory Services Network LLC now owns 10,530 shares of the business services provider’s stock worth $184,000 after purchasing an additional 7,524 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of NEWTEK Business Services by 8.0% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 10,712 shares of the business services provider’s stock worth $187,000 after purchasing an additional 797 shares in the last quarter. Fusion Family Wealth LLC increased its stake in shares of NEWTEK Business Services by 11.9% during the 4th quarter. Fusion Family Wealth LLC now owns 10,841 shares of the business services provider’s stock worth $189,000 after purchasing an additional 1,150 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of NEWTEK Business Services by 197.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,503 shares of the business services provider’s stock worth $241,000 after purchasing an additional 7,638 shares in the last quarter. 21.59% of the stock is owned by institutional investors and hedge funds.
NEWT stock opened at $20.47 on Monday. NEWTEK Business Services has a 12-month low of $15.59 and a 12-month high of $24.24. 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 company has a market cap of $382.56 million, a PE ratio of 15.57, a P/E/G ratio of 3.32 and a beta of 1.39.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 7.82%.
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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