NEWTEK Business Services Corp (NEWT) Expected to Announce Earnings of $0.47 Per Share

Equities research analysts expect NEWTEK Business Services Corp (NASDAQ:NEWT) to announce earnings of $0.47 per share for the current quarter, according to Zacks. Two analysts have provided estimates for NEWTEK Business Services’ earnings. The lowest EPS estimate is $0.45 and the highest is $0.49. NEWTEK Business Services reported earnings of ($0.07) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 771.4%. The business is expected to issue its next quarterly earnings results on Wednesday, November 7th.

On average, analysts expect that NEWTEK Business Services will report full-year earnings of $1.90 per share for the current year, with EPS estimates ranging from $1.89 to $1.91. For the next year, analysts expect that the company will post earnings of $2.08 per share, with EPS estimates ranging from $2.06 to $2.09. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that follow NEWTEK Business Services.

NEWTEK Business Services (NASDAQ:NEWT) last issued its quarterly earnings data on Wednesday, August 1st. The business services provider reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. The business had revenue of $11.40 million during the quarter, compared to the consensus estimate of $11.47 million. NEWTEK Business Services had a net margin of 105.34% and a return on equity of 8.86%.

A number of research analysts have weighed in on the stock. BidaskClub upgraded shares of NEWTEK Business Services from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 15th. Raymond James downgraded shares of NEWTEK Business Services from a “market perform” rating to an “underperform” rating in a research report on Tuesday, August 28th. Singular Research reissued a “not rated” rating on shares of NEWTEK Business Services in a research note on Monday, August 27th. Zacks Investment Research raised shares of NEWTEK Business Services from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Tuesday, August 7th. Finally, Compass Point set a $19.00 target price on shares of NEWTEK Business Services and gave the stock a “hold” rating in a research note on Thursday, August 2nd. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $20.67.

Several hedge funds have recently added to or reduced their stakes in the company. Private Advisor Group LLC grew its stake in NEWTEK Business Services by 8.5% during the 2nd quarter. Private Advisor Group LLC now owns 31,300 shares of the business services provider’s stock valued at $639,000 after acquiring an additional 2,450 shares in the last quarter. California Public Employees Retirement System grew its stake in NEWTEK Business Services by 6.1% during the 2nd quarter. California Public Employees Retirement System now owns 56,934 shares of the business services provider’s stock valued at $1,134,000 after acquiring an additional 3,290 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in NEWTEK Business Services by 10.9% during the 1st quarter. Commonwealth Equity Services LLC now owns 35,627 shares of the business services provider’s stock valued at $643,000 after acquiring an additional 3,510 shares in the last quarter. Van ECK Associates Corp grew its stake in NEWTEK Business Services by 3.9% during the 2nd quarter. Van ECK Associates Corp now owns 133,242 shares of the business services provider’s stock valued at $2,653,000 after acquiring an additional 5,039 shares in the last quarter. Finally, Guggenheim Capital LLC grew its stake in NEWTEK Business Services by 11.1% during the 1st quarter. Guggenheim Capital LLC now owns 69,073 shares of the business services provider’s stock valued at $1,248,000 after acquiring an additional 6,895 shares in the last quarter. 21.16% of the stock is owned by institutional investors and hedge funds.

Shares of NEWTEK Business Services stock opened at $20.53 on Friday. The stock has a market capitalization of $393.51 million, a price-to-earnings ratio of 11.60, a PEG ratio of 3.67 and a beta of 1.30. NEWTEK Business Services has a fifty-two week low of $16.01 and a fifty-two week high of $24.24. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.31 and a quick ratio of 0.31.

The business also recently announced a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Monday, September 17th were paid a dividend of $0.48 per share. The ex-dividend date was Friday, September 14th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.35%. This is a boost from NEWTEK Business Services’s previous quarterly dividend of $0.42. NEWTEK Business Services’s payout ratio is currently 108.47%.

About NEWTEK Business Services

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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Earnings History and Estimates for NEWTEK Business Services (NASDAQ:NEWT)

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