Equities research analysts forecast that Newtek Business Services Corp. (NASDAQ:NEWT) will report earnings per share (EPS) of $0.49 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Newtek Business Services Corp.’s earnings. The lowest EPS estimate is $0.48 and the highest is $0.49. Newtek Business Services Corp. posted earnings per share of ($0.15) during the same quarter last year, which suggests a positive year over year growth rate of 426.7%. The company is scheduled to announce its next earnings report on Wednesday, November 1st.
On average, analysts expect that Newtek Business Services Corp. will report full-year earnings of $1.83 per share for the current fiscal year, with EPS estimates ranging from $1.79 to $1.86. For the next financial year, analysts forecast that the company will report earnings of $1.88 per share, with EPS estimates ranging from $1.82 to $1.93. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover Newtek Business Services Corp..
Newtek Business Services Corp. (NASDAQ:NEWT) last released its quarterly earnings results on Wednesday, August 2nd. The business services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. The firm had revenue of $9.90 million for the quarter, compared to the consensus estimate of $9.19 million. Newtek Business Services Corp. had a return on equity of 7.97% and a net margin of 81.35%.
Several analysts recently weighed in on NEWT shares. Compass Point raised Newtek Business Services Corp. from a “neutral” rating to a “buy” rating in a report on Thursday, May 4th. Keefe, Bruyette & Woods reissued a “mkt perform” rating and issued a $18.00 price objective on shares of Newtek Business Services Corp. in a report on Tuesday, May 30th. Zacks Investment Research lowered Newtek Business Services Corp. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 19th. Finally, BidaskClub raised Newtek Business Services Corp. from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Newtek Business Services Corp. currently has an average rating of “Buy” and an average price target of $17.00.
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Newtek Business Services Corp. (NASDAQ NEWT) traded down 0.30% on Wednesday, reaching $16.40. The company had a trading volume of 162,825 shares. The stock has a 50 day moving average of $16.73 and a 200 day moving average of $16.60. Newtek Business Services Corp. has a 12 month low of $12.97 and a 12 month high of $18.00. The firm has a market capitalization of $286.00 million, a PE ratio of 8.85 and a beta of 1.39.
Institutional investors have recently bought and sold shares of the stock. Fusion Family Wealth LLC raised its position in Newtek Business Services Corp. by 56.6% in the second quarter. Fusion Family Wealth LLC now owns 6,935 shares of the business services provider’s stock valued at $113,000 after buying an additional 2,506 shares during the period. Ameriprise Financial Inc. bought a new position in Newtek Business Services Corp. during the second quarter valued at approximately $171,000. Trexquant Investment LP bought a new position in Newtek Business Services Corp. during the first quarter valued at approximately $201,000. KCG Holdings Inc. bought a new position in Newtek Business Services Corp. during the first quarter valued at approximately $227,000. Finally, American Asset Management Inc. raised its position in Newtek Business Services Corp. by 0.3% in the first quarter. American Asset Management Inc. now owns 14,294 shares of the business services provider’s stock valued at $243,000 after buying an additional 44 shares during the period. 24.64% of the stock is owned by institutional investors.
Newtek Business Services Corp. Company Profile
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.
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