Research Analysts Offer Predictions for Newtek Business Services Corp.’s FY2017 Earnings (NEWT)

Newtek Business Services Corp. (NASDAQ:NEWT) – Stock analysts at DA Davidson lifted their FY2017 earnings per share (EPS) estimates for shares of Newtek Business Services Corp. in a research report issued to clients and investors on Thursday. DA Davidson analyst A. Cyganovich now forecasts that the business services provider will post earnings of $1.79 per share for the year, up from their previous forecast of $1.69. DA Davidson also issued estimates for Newtek Business Services Corp.’s Q4 2017 earnings at $0.50 EPS, Q4 2018 earnings at $0.55 EPS and FY2018 earnings at $1.82 EPS.

Several other brokerages have also issued reports on NEWT. Zacks Investment Research upgraded Newtek Business Services Corp. from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Tuesday. Compass Point upgraded Newtek Business Services Corp. from a “neutral” rating to a “buy” rating in a report on Thursday, May 4th. BidaskClub upgraded Newtek Business Services Corp. from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Finally, Keefe, Bruyette & Woods reiterated a “mkt perform” rating and issued a $18.00 price target on shares of Newtek Business Services Corp. in a report on Tuesday, May 30th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $17.00.

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Newtek Business Services Corp. (NASDAQ:NEWT) traded down 1.69% during midday trading on Monday, reaching $16.91. The company’s stock had a trading volume of 28,000 shares. Newtek Business Services Corp. has a 52-week low of $12.97 and a 52-week high of $18.00. The firm has a 50 day moving average of $16.68 and a 200 day moving average of $16.55. The firm has a market cap of $292.41 million, a P/E ratio of 9.20 and a beta of 1.39.

Newtek Business Services Corp. (NASDAQ:NEWT) last released its quarterly earnings data on Wednesday, August 2nd. The business services provider reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The business had revenue of $9.90 million for the quarter, compared to analysts’ expectations of $9.19 million. Newtek Business Services Corp. had a return on equity of 8.24% and a net margin of 81.35%.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Opus Capital Group LLC raised its position in shares of Newtek Business Services Corp. by 2,611.9% in the first quarter. Opus Capital Group LLC now owns 430,838 shares of the business services provider’s stock valued at $7,315,000 after buying an additional 414,951 shares during the last quarter. UBS Group AG raised its position in shares of Newtek Business Services Corp. by 56.7% in the first quarter. UBS Group AG now owns 404,163 shares of the business services provider’s stock valued at $6,863,000 after buying an additional 146,276 shares during the last quarter. LSV Asset Management raised its position in shares of Newtek Business Services Corp. by 66.4% in the first quarter. LSV Asset Management now owns 287,954 shares of the business services provider’s stock valued at $4,889,000 after buying an additional 114,906 shares during the last quarter. Northpointe Capital LLC raised its position in shares of Newtek Business Services Corp. by 10.8% in the second quarter. Northpointe Capital LLC now owns 283,132 shares of the business services provider’s stock valued at $4,612,000 after buying an additional 27,596 shares during the last quarter. Finally, West Family Investments Inc. raised its position in shares of Newtek Business Services Corp. by 16.1% in the first quarter. West Family Investments Inc. now owns 251,547 shares of the business services provider’s stock valued at $4,271,000 after buying an additional 34,900 shares during the last quarter. Institutional investors and hedge funds own 24.64% of the company’s stock.

About Newtek Business Services Corp.

Newtek Business Services Corp. is an internally managed non-diversified closed-end management investment company. The Company’s investment objective is to generate both current income and capital appreciation primarily through loans originated by its small business finance platform and its equity investments in certain portfolio companies that it controls.