NEWTEK Business Services (NEWT) Stock Rating Upgraded by ValuEngine

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ValuEngine upgraded shares of NEWTEK Business Services (NASDAQ:NEWT) from a hold rating to a buy rating in a research note published on Saturday morning.

NEWT has been the topic of several other reports. Compass Point set a $19.00 target price on NEWTEK Business Services and gave the company a hold rating in a report on Thursday, August 2nd. Zacks Investment Research downgraded NEWTEK Business Services from a hold rating to a strong sell rating in a report on Wednesday, October 17th. BidaskClub upgraded NEWTEK Business Services from a sell rating to a hold rating in a report on Thursday, November 1st. Finally, Raymond James downgraded NEWTEK Business Services from a market perform rating to an underperform rating in a report on Tuesday, August 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. NEWTEK Business Services has an average rating of Hold and an average price target of $20.67.

NASDAQ NEWT opened at $19.62 on Friday. The stock has a market capitalization of $386.75 million, a PE ratio of 11.08, a PEG ratio of 3.61 and a beta of 1.34. NEWTEK Business Services has a 1-year low of $16.07 and a 1-year high of $24.24. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.28.

NEWTEK Business Services (NASDAQ:NEWT) last released its quarterly earnings data on Wednesday, November 7th. The business services provider reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.03. The business had revenue of $12.39 million for the quarter, compared to analyst estimates of $11.85 million. NEWTEK Business Services had a return on equity of 8.57% and a net margin of 102.01%. Sell-side analysts expect that NEWTEK Business Services will post 1.9 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Tuesday, December 18th will be issued a dividend of $0.50 per share. 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 10.19%. The ex-dividend date is Monday, December 17th. NEWTEK Business Services’s dividend payout ratio (DPR) is presently 108.47%.

Several large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its holdings 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 valued at $241,000 after buying an additional 7,638 shares during the period. Virtu Financial LLC purchased a new stake in shares of NEWTEK Business Services during the 3rd quarter valued at about $378,000. MML Investors Services LLC raised its holdings in shares of NEWTEK Business Services by 31.6% during the 3rd quarter. MML Investors Services LLC now owns 28,388 shares of the business services provider’s stock valued at $594,000 after buying an additional 6,819 shares during the period. Commonwealth Equity Services LLC raised its holdings in shares of NEWTEK Business Services by 12.4% during the 3rd quarter. Commonwealth Equity Services LLC now owns 40,486 shares of the business services provider’s stock valued at $847,000 after buying an additional 4,470 shares during the period. Finally, Private Advisor Group LLC raised its holdings in shares of NEWTEK Business Services by 50.0% during the 3rd quarter. Private Advisor Group LLC now owns 46,953 shares of the business services provider’s stock valued at $983,000 after buying an additional 15,653 shares during the period. Institutional investors and hedge funds own 21.19% of the company’s stock.

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.

Read More: Return on Investment (ROI)

To view ValuEngine’s full report, visit ValuEngine’s official website.

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