$0.53 EPS Expected for NEWTEK Business Services Corp (NEWT) This Quarter

Wall Street brokerages forecast that NEWTEK Business Services Corp (NASDAQ:NEWT) will report $0.53 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have made estimates for NEWTEK Business Services’ earnings. NEWTEK Business Services reported earnings of $0.51 per share in the same quarter last year, which indicates a positive year over year growth rate of 3.9%. The firm is expected to report its next earnings results on Monday, March 4th.

According to Zacks, analysts expect that NEWTEK Business Services will report full-year earnings of $1.91 per share for the current fiscal year, with EPS estimates ranging from $1.90 to $1.91. For the next financial year, analysts expect that the company will post earnings of $2.05 per share, with EPS estimates ranging from $2.03 to $2.07. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow NEWTEK Business Services.

NEWTEK Business Services (NASDAQ:NEWT) last released its quarterly earnings results on Wednesday, November 7th. The business services provider reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.03. The company 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 8.51% and a net margin of 102.01%.

NEWT has been the subject of a number of recent analyst reports. Compass Point set a $19.00 price objective on NEWTEK Business Services and gave the company a “hold” rating in a research report on Thursday, August 2nd. ValuEngine raised NEWTEK Business Services from a “hold” rating to a “buy” rating in a research report on Saturday, November 10th. Zacks Investment Research downgraded NEWTEK Business Services from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 17th. BidaskClub raised NEWTEK Business Services from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. Finally, Raymond James downgraded NEWTEK Business Services from a “market perform” rating to an “underperform” rating in a research report on Tuesday, August 28th. 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 to the company. NEWTEK Business Services presently has an average rating of “Hold” and an average price target of $20.67.

A number of institutional investors have recently modified their holdings of the stock. Morgan Stanley boosted its holdings in NEWTEK Business Services by 5.9% in the third quarter. Morgan Stanley now owns 94,081 shares of the business services provider’s stock valued at $1,971,000 after acquiring an additional 5,214 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in NEWTEK Business Services by 4.5% in the third quarter. Advisors Asset Management Inc. now owns 460,629 shares of the business services provider’s stock valued at $9,646,000 after acquiring an additional 19,665 shares during the last quarter. LPL Financial LLC boosted its holdings in NEWTEK Business Services by 87.0% in the third quarter. LPL Financial LLC now owns 27,293 shares of the business services provider’s stock valued at $572,000 after acquiring an additional 12,696 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in NEWTEK Business Services in the third quarter valued at $470,000. Finally, JPMorgan Chase & Co. boosted its holdings in NEWTEK Business Services by 197.6% in the third quarter. JPMorgan Chase & Co. now owns 11,503 shares of the business services provider’s stock valued at $241,000 after acquiring an additional 7,638 shares during the last quarter. Hedge funds and other institutional investors own 21.18% of the company’s stock.

Shares of NASDAQ:NEWT opened at $20.46 on Friday. The firm has a market capitalization of $386.66 million, a PE ratio of 11.56, a price-to-earnings-growth ratio of 3.58 and a beta of 1.34. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.30. NEWTEK Business Services has a 52 week low of $16.07 and a 52 week high of $24.24.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Tuesday, December 18th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, December 17th. This represents a $2.00 dividend on an annualized basis and a yield of 9.78%. This is a boost from NEWTEK Business Services’s previous quarterly dividend of $0.48. NEWTEK Business Services’s dividend payout ratio (DPR) is presently 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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Earnings History and Estimates for NEWTEK Business Services (NASDAQ:NEWT)

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