Shares of NEWTEK Business Services Corp (NASDAQ:NEWT) have earned an average recommendation of “Hold” from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $19.00.
A number of research analysts have weighed in on the company. ValuEngine upgraded NEWTEK Business Services from a “hold” rating to a “buy” rating in a research note on Saturday. Compass Point set a $19.00 price target on NEWTEK Business Services and gave the company a “hold” rating in a research note on Thursday. BidaskClub upgraded NEWTEK Business Services from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. Zacks Investment Research downgraded NEWTEK Business Services from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 17th. Finally, Raymond James upgraded NEWTEK Business Services from an “underperform” rating to a “market perform” rating in a research note on Thursday, September 27th. They noted that the move was a valuation call.
A number of hedge funds have recently bought and sold shares of the business. Advisors Asset Management Inc. lifted its position in shares of NEWTEK Business Services by 13.3% in the second quarter. Advisors Asset Management Inc. now owns 440,964 shares of the business services provider’s stock valued at $8,780,000 after buying an additional 51,624 shares during the last quarter. Raymond James & Associates lifted its position in shares of NEWTEK Business Services by 55.7% in the second quarter. Raymond James & Associates now owns 82,764 shares of the business services provider’s stock valued at $1,648,000 after buying an additional 29,605 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of NEWTEK Business Services in the second quarter valued at approximately $430,000. Captrust Financial Advisors acquired a new stake in shares of NEWTEK Business Services in the second quarter valued at approximately $389,000. Finally, Private Advisor Group LLC lifted its position in shares of NEWTEK Business Services by 50.0% in the third quarter. Private Advisor Group LLC now owns 46,953 shares of the business services provider’s stock valued at $983,000 after buying an additional 15,653 shares during the last quarter. Hedge funds and other institutional investors own 21.09% of the company’s stock.
NASDAQ:NEWT opened at $20.58 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.28. The stock has a market cap of $373.03 million, a P/E ratio of 11.63, a PEG ratio of 3.48 and a beta of 1.34. NEWTEK Business Services has a 52-week low of $16.07 and a 52-week high of $24.24.
NEWTEK Business Services (NASDAQ:NEWT) last posted its quarterly earnings results on Wednesday, November 7th. The business services provider reported $0.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.03. The firm had revenue of $12.39 million during the quarter, compared to the consensus estimate of $11.85 million. NEWTEK Business Services had a return on equity of 8.86% and a net margin of 105.34%. On average, research analysts predict that NEWTEK Business Services will post 1.9 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Tuesday, December 18th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 9.72%. This is an increase from NEWTEK Business Services’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Monday, December 17th. NEWTEK Business Services’s dividend payout ratio (DPR) is currently 108.47%.
NEWTEK Business Services Company Profile
Newtek Business Services Corp. is a business development company specializing in providing financial and business services to the small-and medium-sized business market in the United States. The firm also seeks to invest in early stage businesses. The firm seeks to makes both debt and equity investments.
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