Brokerages expect NEWTEK Business Services Corp (NASDAQ:NEWT) to post sales of $10.08 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for NEWTEK Business Services’ earnings. The lowest sales estimate is $9.97 million and the highest is $10.20 million. NEWTEK Business Services posted sales of $9.10 million in the same quarter last year, which suggests a positive year over year growth rate of 10.8%. The firm is expected to issue its next quarterly earnings results after the market closes on Monday, March 5th.
On average, analysts expect that NEWTEK Business Services will report full year sales of $10.08 million for the current fiscal year, with estimates ranging from $38.46 million to $38.70 million. For the next year, analysts anticipate that the company will report sales of $44.61 million per share, with estimates ranging from $44.00 million to $45.22 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow NEWTEK Business Services.
A number of brokerages recently weighed in on NEWT. Zacks Investment Research lowered shares of NEWTEK Business Services from a “buy” rating to a “hold” rating in a report on Friday, December 8th. ValuEngine lowered shares of NEWTEK Business Services from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 31st. BidaskClub lowered shares of NEWTEK Business Services from a “hold” rating to a “sell” rating in a report on Tuesday, January 23rd. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $18.00 price target on shares of NEWTEK Business Services in a report on Friday, October 13th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $18.50.
Shares of NEWTEK Business Services (NASDAQ:NEWT) opened at $16.86 on Friday. NEWTEK Business Services has a twelve month low of $15.61 and a twelve month high of $19.40. The firm has a market cap of $305.71, a PE ratio of 10.36, a P/E/G ratio of 2.90 and a beta of 1.21. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.26.
The firm also recently declared 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. The ex-dividend date is Monday, March 19th. This represents a $1.60 annualized dividend and a dividend yield of 9.49%.
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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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