NewtekOne (NASDAQ:NEWT) Issues FY 2024 Earnings Guidance

NewtekOne (NASDAQ:NEWT) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 1.850-2.050 for the period, compared to the consensus EPS estimate of 1.840. The company issued revenue guidance of -.

NewtekOne Trading Up 1.8 %

NEWT stock traded up $0.23 during midday trading on Thursday, reaching $12.82. The stock had a trading volume of 56,751 shares, compared to its average volume of 141,270. NewtekOne has a twelve month low of $10.07 and a twelve month high of $19.36. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 4.83. The firm has a market cap of $328.70 million, a price-to-earnings ratio of 7.98 and a beta of 1.23. The business has a fifty day simple moving average of $11.23 and a two-hundred day simple moving average of $12.50.

NewtekOne (NASDAQ:NEWT) last released its quarterly earnings data on Wednesday, March 6th. The business services provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.05). The firm had revenue of $75.60 million for the quarter, compared to analyst estimates of $62.99 million. NewtekOne had a return on equity of 20.04% and a net margin of 15.19%. During the same quarter in the prior year, the firm earned $0.06 earnings per share. As a group, research analysts expect that NewtekOne will post 1.83 EPS for the current fiscal year.

NewtekOne Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were given a $0.19 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.76 annualized dividend and a dividend yield of 5.93%. This is a positive change from NewtekOne’s previous quarterly dividend of $0.18. NewtekOne’s payout ratio is 46.91%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NEWT. B. Riley restated a buy rating and set a $18.00 price target (down previously from $19.00) on shares of NewtekOne in a report on Thursday, March 7th. Piper Sandler cut their target price on NewtekOne from $13.00 to $11.00 and set a neutral rating on the stock in a research note on Monday, March 18th. StockNews.com upgraded NewtekOne from a sell rating to a hold rating in a research note on Tuesday. Finally, Keefe, Bruyette & Woods cut their price objective on NewtekOne from $16.00 to $13.00 and set a market perform rating for the company in a research note on Wednesday, March 20th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $14.50.

About NewtekOne

NewtekOne, Inc operates as the bank holding company for Newtek Bank, National Association that engages in the provision of various business and financial solutions under the Newtek brand name to the small- and medium-sized business market. The company accepts demand, savings, NOW, money market, and time deposits; and provides loans including SBA loans, commercial and industrial loans, and commercial real estate loans.