Analysts Anticipate NEWTEK Business Services Corp (NEWT) Will Announce Earnings of $0.55 Per Share

Wall Street analysts expect NEWTEK Business Services Corp (NASDAQ:NEWT) to report earnings per share of $0.55 for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for NEWTEK Business Services’ earnings. The highest EPS estimate is $0.61 and the lowest is $0.48. NEWTEK Business Services reported earnings of $0.46 per share in the same quarter last year, which indicates a positive year over year growth rate of 19.6%. The business is scheduled to issue its next earnings results on Monday, March 5th.

On average, analysts expect that NEWTEK Business Services will report full year earnings of $1.83 per share for the current year, with EPS estimates ranging from $1.79 to $1.87. For the next financial year, analysts anticipate that the business will report earnings of $1.91 per share, with EPS estimates ranging from $1.83 to $1.98. Zacks’ EPS averages are a mean average based on a survey of research firms that cover NEWTEK Business Services.

NEWTEK Business Services (NASDAQ:NEWT) last issued its quarterly earnings data on Wednesday, November 1st. The business services provider reported ($0.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.55). NEWTEK Business Services had a return on equity of 7.97% and a net margin of 78.03%.

Several analysts have recently weighed in on NEWT shares. BidaskClub downgraded shares of NEWTEK Business Services from a “strong-buy” rating to a “buy” rating in a report on Friday, January 5th. Zacks Investment Research raised shares of NEWTEK Business Services from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Wednesday, November 8th. ValuEngine downgraded shares of NEWTEK Business Services from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 31st. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $18.00 target price on shares of NEWTEK Business Services in a report on Friday, October 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. NEWTEK Business Services presently has a consensus rating of “Hold” and a consensus price target of $18.50.

Shares of NEWTEK Business Services (NEWT) opened at $17.82 on Friday. The firm has a market cap of $320.83, a PE ratio of 10.80, a PEG ratio of 3.12 and a beta of 1.42. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.26. NEWTEK Business Services has a fifty-two week low of $15.15 and a fifty-two week high of $19.40.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Tuesday, March 20th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 8.98%. The ex-dividend date is Monday, March 19th. NEWTEK Business Services’s payout ratio is 106.67%.

In other news, CEO Barry Sloane bought 3,000 shares of the stock in a transaction dated Monday, November 6th. The shares were acquired at an average price of $16.60 per share, with a total value of $49,800.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,006,113 shares in the company, valued at $16,701,475.80. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard J. Salute bought 1,468 shares of the stock in a transaction dated Friday, November 10th. The stock was purchased at an average cost of $17.07 per share, for a total transaction of $25,058.76. Following the acquisition, the director now owns 7,734 shares of the company’s stock, valued at $132,019.38. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 8,068 shares of company stock worth $137,966. Insiders own 6.70% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in NEWT. Ameriprise Financial Inc. purchased a new stake in NEWTEK Business Services during the second quarter worth about $171,000. Van ECK Associates Corp boosted its holdings in NEWTEK Business Services by 27.2% during the second quarter. Van ECK Associates Corp now owns 141,029 shares of the business services provider’s stock worth $2,297,000 after buying an additional 30,180 shares in the last quarter. OxFORD Asset Management LLP purchased a new stake in NEWTEK Business Services during the second quarter worth about $936,000. Stifel Financial Corp boosted its holdings in NEWTEK Business Services by 2.8% during the second quarter. Stifel Financial Corp now owns 30,436 shares of the business services provider’s stock worth $495,000 after buying an additional 823 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in NEWTEK Business Services by 13.5% during the second quarter. Goldman Sachs Group Inc. now owns 85,686 shares of the business services provider’s stock worth $1,396,000 after buying an additional 10,185 shares in the last quarter. 20.98% of the stock is currently owned by hedge funds and other institutional investors.

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About NEWTEK Business Services

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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