Shares of NEWTEK Business Services Corp (NASDAQ:NEWT) have been assigned an average recommendation of “Hold” from the eight research firms that are presently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $17.89.
NEWT has been the subject of a number of analyst reports. Zacks Investment Research raised NEWTEK Business Services from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Wednesday, January 9th. LADENBURG THALM/SH SH raised NEWTEK Business Services from a “neutral” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Friday, December 28th. TheStreet cut NEWTEK Business Services from a “b” rating to a “c+” rating in a research note on Monday. ValuEngine cut NEWTEK Business Services from a “buy” rating to a “hold” rating in a research note on Monday, December 17th. Finally, BidaskClub raised NEWTEK Business Services from a “sell” rating to a “hold” rating in a research note on Friday, November 23rd.
In other NEWTEK Business Services news, CEO Barry Sloane bought 3,000 shares of the firm’s stock in a transaction on Thursday, December 20th. The stock was purchased at an average cost of $16.46 per share, with a total value of $49,380.00. Following the completion of the purchase, 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 legal filing with the SEC, which is available at this hyperlink. Over the last three months, insiders acquired 4,812 shares of company stock valued at $79,679. Insiders own 6.30% of the company’s stock.
A number of large investors have recently bought and sold shares of NEWT. Wiley BROS. Aintree Capital LLC acquired a new position in NEWTEK Business Services in the fourth quarter valued at about $1,388,000. HRT Financial LLC acquired a new position in NEWTEK Business Services in the fourth quarter valued at about $754,000. Dynamic Technology Lab Private Ltd acquired a new position in NEWTEK Business Services in the third quarter valued at about $470,000. Millennium Management LLC acquired a new position in NEWTEK Business Services in the fourth quarter valued at about $382,000. Finally, Advisors Asset Management Inc. grew its stake in NEWTEK Business Services by 4.5% in the third quarter. Advisors Asset Management Inc. now owns 460,629 shares of the business services provider’s stock valued at $9,646,000 after acquiring an additional 19,665 shares during the period. 20.24% of the stock is owned by hedge funds and other institutional investors.
NEWT stock opened at $20.31 on Friday. The firm has a market cap of $383.86 million, a PE ratio of 10.47, a PEG ratio of 3.26 and a beta of 1.40. NEWTEK Business Services has a twelve month low of $15.59 and a twelve month high of $24.24. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.30.
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, topping analysts’ consensus estimates of $0.53 by $0.04. NEWTEK Business Services had a return on equity of 9.05% and a net margin of 72.06%. The business had revenue of $14.66 million during the quarter, compared to analysts’ expectations of $12.85 million. On average, equities research analysts predict that NEWTEK Business Services will post 2.05 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.60 dividend on an annualized basis and a yield of 7.88%. NEWTEK Business Services’s payout ratio is 103.09%.
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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