Newtek Business Services Corp. (NASDAQ:NEWT) – Stock analysts at DA Davidson boosted their FY2017 EPS estimates for shares of Newtek Business Services Corp. in a note issued to investors on Thursday. DA Davidson analyst A. Cyganovich now anticipates that the business services provider will post earnings per share of $1.79 for the year, up from their prior estimate of $1.69. DA Davidson also issued estimates for Newtek Business Services Corp.’s Q4 2017 earnings at $0.50 EPS, Q4 2018 earnings at $0.55 EPS and FY2018 earnings at $1.82 EPS.

Newtek Business Services Corp. (NASDAQ:NEWT) last released its quarterly earnings results on Wednesday, August 2nd. The business services provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. Newtek Business Services Corp. had a net margin of 81.35% and a return on equity of 8.24%. The business had revenue of $9.90 million for the quarter, compared to analyst estimates of $9.19 million.

COPYRIGHT VIOLATION NOTICE: “FY2017 EPS Estimates for Newtek Business Services Corp. Increased by Analyst (NEWT)” was first published by American Banking News and is the sole property of of American Banking News. If you are reading this article on another domain, it was illegally copied and reposted in violation of U.S. & international trademark & copyright legislation. The correct version of this article can be accessed at https://www.americanbankingnews.com/2017/08/07/fy2017-eps-estimates-for-newtek-business-services-corp-increased-by-analyst-newt.html.

Several other equities research analysts have also recently weighed in on NEWT. BidaskClub upgraded Newtek Business Services Corp. from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Zacks Investment Research cut Newtek Business Services Corp. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Keefe, Bruyette & Woods reiterated a “mkt perform” rating and set a $18.00 price target on shares of Newtek Business Services Corp. in a research report on Tuesday, May 30th. Finally, Compass Point upgraded Newtek Business Services Corp. from a “neutral” rating to a “buy” rating in a research report on Thursday, May 4th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $16.50.

Newtek Business Services Corp. (NASDAQ:NEWT) opened at 17.03 on Monday. The company has a market capitalization of $294.48 million, a price-to-earnings ratio of 9.26 and a beta of 1.39. The company’s 50-day moving average is $16.63 and its 200-day moving average is $16.54. Newtek Business Services Corp. has a 52-week low of $12.97 and a 52-week high of $18.00.

Several large investors have recently made changes to their positions in NEWT. Trexquant Investment LP bought a new position in Newtek Business Services Corp. during the first quarter valued at $201,000. KCG Holdings Inc. bought a new position in Newtek Business Services Corp. during the first quarter valued at $227,000. American Asset Management Inc. boosted its position in Newtek Business Services Corp. by 0.3% in the first quarter. American Asset Management Inc. now owns 14,294 shares of the business services provider’s stock valued at $243,000 after buying an additional 44 shares during the period. JPMorgan Chase & Co. boosted its position in Newtek Business Services Corp. by 288.2% in the first quarter. JPMorgan Chase & Co. now owns 15,004 shares of the business services provider’s stock valued at $255,000 after buying an additional 11,139 shares during the period. Finally, Chubb Ltd boosted its position in Newtek Business Services Corp. by 1.9% in the second quarter. Chubb Ltd now owns 15,772 shares of the business services provider’s stock valued at $257,000 after buying an additional 291 shares during the period. Hedge funds and other institutional investors own 24.64% of the company’s stock.

Newtek Business Services Corp. Company Profile

Newtek Business Services Corp. is an internally managed non-diversified closed-end management investment company. The Company’s investment objective is to generate both current income and capital appreciation primarily through loans originated by its small business finance platform and its equity investments in certain portfolio companies that it controls.

Earnings History and Estimates for Newtek Business Services Corp. (NASDAQ:NEWT)

Receive News & Ratings for Newtek Business Services Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newtek Business Services Corp. and related companies with MarketBeat.com's FREE daily email newsletter.