NEWTEK Business Services (NASDAQ:NEWT) issued its earnings results on Wednesday. The business services provider reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.03, Fidelity Earnings reports. 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 105.34% and a return on equity of 8.86%.
Shares of NEWT stock traded down $0.17 on Friday, hitting $20.45. The stock had a trading volume of 425 shares, compared to its average volume of 208,717. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.31 and a quick ratio of 0.31. The company has a market capitalization of $373.03 million, a P/E ratio of 11.41, a PEG ratio of 3.48 and a beta of 1.34. NEWTEK Business Services has a one year low of $16.07 and a one year high of $24.24.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Tuesday, December 18th will be issued a $0.50 dividend. This is an increase from NEWTEK Business Services’s previous quarterly dividend of $0.48. This represents a $2.00 annualized dividend and a dividend yield of 9.78%. The ex-dividend date of this dividend is Monday, December 17th. NEWTEK Business Services’s payout ratio is presently 108.47%.
A number of analysts have recently issued reports on the stock. Compass Point set a $19.00 target price on shares of NEWTEK Business Services and gave the company a “hold” rating in a research note on Thursday. BidaskClub raised shares of NEWTEK Business Services from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. Zacks Investment Research lowered shares of NEWTEK Business Services from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 17th. ValuEngine lowered shares of NEWTEK Business Services from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Finally, Raymond James raised shares of NEWTEK Business Services from an “underperform” rating to a “market perform” rating in a research note on Thursday, September 27th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $20.67.
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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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