BidaskClub upgraded shares of NEWTEK Business Services (NASDAQ:NEWT) from a hold rating to a buy rating in a research report report published on Tuesday, May 22nd.
A number of other research analysts have also issued reports on NEWT. Keefe, Bruyette & Woods set a $19.00 target price on NEWTEK Business Services and gave the company a hold rating in a report on Tuesday, March 6th. Zacks Investment Research raised NEWTEK Business Services from a sell rating to a hold rating in a report on Wednesday, February 14th. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and an average price target of $19.00.
Shares of NASDAQ:NEWT traded down $0.57 during midday trading on Tuesday, hitting $19.38. The company had a trading volume of 105,700 shares, compared to its average volume of 112,470. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.37 and a current ratio of 0.37. The stock has a market cap of $370.53 million, a PE ratio of 10.95, a P/E/G ratio of 3.54 and a beta of 1.11. NEWTEK Business Services has a twelve month low of $15.68 and a twelve month high of $20.76.
NEWTEK Business Services (NASDAQ:NEWT) last released its quarterly earnings results on Wednesday, May 2nd. The business services provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.38 by $0.06. NEWTEK Business Services had a return on equity of 8.74% and a net margin of 107.67%. The business had revenue of $11.07 million during the quarter, compared to analyst estimates of $10.72 million. analysts predict that NEWTEK Business Services will post 1.87 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be given a dividend of $0.42 per share. This is a boost from NEWTEK Business Services’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, June 14th. This represents a $1.68 annualized dividend and a yield of 8.67%. NEWTEK Business Services’s payout ratio is presently 90.40%.
Several large investors have recently made changes to their positions in the company. Two Sigma Investments LP lifted its stake in NEWTEK Business Services by 898.9% in the 4th quarter. Two Sigma Investments LP now owns 211,432 shares of the business services provider’s stock valued at $3,909,000 after buying an additional 190,266 shares in the last quarter. Suntrust Banks Inc. acquired a new position in NEWTEK Business Services in the 4th quarter valued at $258,000. Quadrature Capital Ltd acquired a new position in NEWTEK Business Services in the 4th quarter valued at $246,000. Mckinley Capital Management LLC Delaware raised its holdings in NEWTEK Business Services by 2.5% in the 4th quarter. Mckinley Capital Management LLC Delaware now owns 155,216 shares of the business services provider’s stock valued at $2,870,000 after acquiring an additional 3,787 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in NEWTEK Business Services by 117.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 130,748 shares of the business services provider’s stock valued at $2,418,000 after acquiring an additional 70,744 shares during the last quarter. 21.72% of the stock is currently owned by institutional investors and hedge funds.
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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