Newtek Business Services Corp. (NEWT) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS
Newtek Business Services Corp. (NASDAQ:NEWT) released its quarterly earnings results on Wednesday. The business services provider reported $0.45 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.01), Bloomberg Earnings reports. Newtek Business Services Corp. had a net margin of 81.35% and a return on equity of 7.97%.
NEWT has been the topic of a number of recent research reports. ValuEngine cut shares of Newtek Business Services Corp. from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Zacks Investment Research raised shares of Newtek Business Services Corp. from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research note on Tuesday, August 8th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $18.00 price objective on shares of Newtek Business Services Corp. in a research note on Friday, October 13th. 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 investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average price target 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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