NEWTEK Business Services Corp (NASDAQ:NEWT) has earned a consensus recommendation of “Hold” from the six research firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company.
Several analysts have weighed in on the stock. Zacks Investment Research downgraded shares of NEWTEK Business Services from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 11th. LADENBURG THALM/SH SH downgraded shares of NEWTEK Business Services from a “buy” rating to a “neutral” rating in a report on Tuesday, August 11th. They noted that the move was a valuation call. TheStreet raised shares of NEWTEK Business Services from a “c” rating to a “b-” rating in a report on Friday, August 7th. Finally, BidaskClub downgraded shares of NEWTEK Business Services from a “buy” rating to a “hold” rating in a report on Saturday.
NASDAQ:NEWT opened at $18.75 on Friday. The company has a market cap of $392.01 million, a PE ratio of 9.10 and a beta of 1.26. NEWTEK Business Services has a twelve month low of $7.59 and a twelve month high of $23.73. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.36. The company’s 50 day moving average is $19.02 and its two-hundred day moving average is $17.15.
NEWTEK Business Services (NASDAQ:NEWT) last released its earnings results on Wednesday, August 5th. The business services provider reported $1.37 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.09). The company had revenue of $46.69 million for the quarter, compared to analysts’ expectations of $14.08 million. NEWTEK Business Services had a return on equity of 18.93% and a net margin of 44.30%. As a group, analysts expect that NEWTEK Business Services will post 2 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st were issued a $0.58 dividend. This is an increase from NEWTEK Business Services’s previous quarterly dividend of $0.56. This represents a $2.32 annualized dividend and a dividend yield of 12.37%. The ex-dividend date of this dividend was Friday, September 18th. NEWTEK Business Services’s dividend payout ratio is 99.57%.
Hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada purchased a new stake in shares of NEWTEK Business Services in the first quarter valued at about $49,000. Marshall Wace North America L.P. acquired a new stake in NEWTEK Business Services in the first quarter valued at approximately $67,000. Private Advisor Group LLC acquired a new stake in NEWTEK Business Services in the second quarter valued at approximately $68,000. Citigroup Inc. acquired a new stake in NEWTEK Business Services in the first quarter valued at approximately $92,000. Finally, Two Sigma Securities LLC acquired a new stake in NEWTEK Business Services in the first quarter valued at approximately $138,000. 14.57% of the stock is currently owned by institutional investors and hedge funds.
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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