NEWTEK Business Services (NASDAQ:NEWT) Stock Rating Upgraded by ValuEngine

NEWTEK Business Services (NASDAQ:NEWT) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Tuesday, ValuEngine reports.

NEWT has been the subject of a number of other research reports. BidaskClub raised shares of NEWTEK Business Services from a “sell” rating to a “hold” rating in a report on Thursday, November 21st. Raymond James cut NEWTEK Business Services from an “outperform” rating to a “market perform” rating in a research note on Friday, November 8th. Finally, Zacks Investment Research lowered shares of NEWTEK Business Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $19.17.

NEWT stock opened at $23.23 on Tuesday. The firm has a fifty day moving average price of $22.61 and a 200 day moving average price of $22.30. NEWTEK Business Services has a fifty-two week low of $15.59 and a fifty-two week high of $23.99. The firm has a market cap of $463.79 million, a PE ratio of 11.97 and a beta of 1.22. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.31 and a current ratio of 0.31.

NEWTEK Business Services (NASDAQ:NEWT) last released its quarterly earnings data on Wednesday, November 6th. The business services provider reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.07. NEWTEK Business Services had a net margin of 61.37% and a return on equity of 14.42%. The business had revenue of $16.02 million during the quarter, compared to analyst estimates of $13.68 million. On average, equities analysts predict that NEWTEK Business Services will post 2.37 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Stifel Financial Corp increased its holdings in NEWTEK Business Services by 1.9% during the 3rd quarter. Stifel Financial Corp now owns 41,779 shares of the business services provider’s stock worth $941,000 after purchasing an additional 771 shares during the period. American Asset Management Inc. increased its stake in shares of NEWTEK Business Services by 3.3% during the third quarter. American Asset Management Inc. now owns 33,903 shares of the business services provider’s stock valued at $766,000 after buying an additional 1,075 shares during the period. Advisor Group Inc. increased its stake in shares of NEWTEK Business Services by 64.3% during the second quarter. Advisor Group Inc. now owns 4,494 shares of the business services provider’s stock valued at $104,000 after buying an additional 1,759 shares during the period. AE Wealth Management LLC raised its holdings in shares of NEWTEK Business Services by 12.8% in the third quarter. AE Wealth Management LLC now owns 23,069 shares of the business services provider’s stock valued at $521,000 after acquiring an additional 2,625 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in shares of NEWTEK Business Services by 4.9% in the second quarter. Commonwealth Equity Services LLC now owns 58,629 shares of the business services provider’s stock valued at $1,348,000 after acquiring an additional 2,736 shares in the last quarter. Hedge funds and other institutional investors own 17.08% of the company’s stock.

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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