NEWTEK Business Services Corp (NASDAQ:NEWT) has been assigned an average recommendation of “Buy” from the seven analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $20.67.
Several equities research analysts recently commented on NEWT shares. Zacks Investment Research lowered shares of NEWTEK Business Services from a “hold” rating to a “sell” rating in a research report on Thursday, May 3rd. BidaskClub upgraded shares of NEWTEK Business Services from a “hold” rating to a “buy” rating in a research report on Tuesday, May 22nd. Finally, Raymond James lowered shares of NEWTEK Business Services from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 5th.
NEWTEK Business Services stock opened at $23.40 on Monday. NEWTEK Business Services has a 52 week low of $16.01 and a 52 week high of $24.24. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a market capitalization of $444.06 million, a P/E ratio of 13.22, a price-to-earnings-growth ratio of 4.15 and a beta of 1.15.
NEWTEK Business Services (NASDAQ:NEWT) last released its quarterly earnings data on Wednesday, August 1st. The business services provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.42 by $0.02. NEWTEK Business Services had a net margin of 105.34% and a return on equity of 8.86%. The business had revenue of $11.40 million for the quarter, compared to analyst estimates of $11.47 million. analysts forecast that NEWTEK Business Services will post 1.9 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Monday, September 17th will be given a $0.48 dividend. The ex-dividend date is Friday, September 14th. This is a positive change from NEWTEK Business Services’s previous quarterly dividend of $0.42. This represents a $1.92 annualized dividend and a dividend yield of 8.21%. NEWTEK Business Services’s payout ratio is currently 94.92%.
A number of large investors have recently added to or reduced their stakes in NEWT. Advisors Asset Management Inc. lifted its holdings in NEWTEK Business Services by 13.3% in the 2nd quarter. Advisors Asset Management Inc. now owns 440,964 shares of the business services provider’s stock valued at $8,780,000 after purchasing an additional 51,624 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in NEWTEK Business Services in the 1st quarter valued at about $568,000. Raymond James & Associates lifted its holdings in NEWTEK Business Services by 55.7% in the 2nd quarter. Raymond James & Associates now owns 82,764 shares of the business services provider’s stock valued at $1,648,000 after purchasing an additional 29,605 shares in the last quarter. Private Advisor Group LLC purchased a new position in NEWTEK Business Services in the 1st quarter valued at about $521,000. Finally, GSA Capital Partners LLP purchased a new position in NEWTEK Business Services in the 2nd quarter valued at about $430,000. Institutional investors own 21.16% of the company’s stock.
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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