Newtek Business Services Corp. (NEWT) to Release Quarterly Earnings on Wednesday
Newtek Business Services Corp. (NASDAQ:NEWT) is set to issue its quarterly earnings data after the market closes on Wednesday, November 1st. Analysts expect the company to announce earnings of $0.46 per share for the quarter.
Newtek Business Services Corp. (NASDAQ:NEWT) last announced its quarterly earnings data on Wednesday, August 2nd. The business services provider reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.01. Newtek Business Services Corp. had a net margin of 81.35% and a return on equity of 7.97%. The firm had revenue of $9.90 million for the quarter, compared to the consensus estimate of $9.19 million. On average, analysts expect Newtek Business Services Corp. to post $1.86 EPS for the current fiscal year and $1.93 EPS for the next fiscal year.
Newtek Business Services Corp. (NEWT) opened at 17.41 on Wednesday. Newtek Business Services Corp. has a 12 month low of $13.90 and a 12 month high of $18.16. The company’s 50-day moving average is $17.57 and its 200-day moving average is $17.01. The stock has a market capitalization of $303.61 million, a P/E ratio of 9.39 and a beta of 1.39.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 22nd were paid a dividend of $0.44 per share. This is a boost from Newtek Business Services Corp.’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a dividend yield of 10.11%. The ex-dividend date was Thursday, September 21st. Newtek Business Services Corp.’s dividend payout ratio (DPR) is currently 93.62%.
Several equities analysts have recently weighed in on NEWT shares. Zacks Investment Research raised shares of Newtek Business Services Corp. from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research note on Tuesday, August 8th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $18.00 price target on shares of Newtek Business Services Corp. in a research note on Friday, October 13th. ValuEngine raised shares of Newtek Business Services Corp. from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Finally, BidaskClub raised shares of Newtek Business Services Corp. from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Four analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Newtek Business Services Corp. has a consensus rating of “Buy” and a consensus target price of $18.50.
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About Newtek Business Services Corp.
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.
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