Q1 2018 EPS Estimates for NEWTEK Business Services Corp (NEWT) Lowered by DA Davidson

NEWTEK Business Services Corp (NASDAQ:NEWT) – Equities research analysts at DA Davidson cut their Q1 2018 earnings per share (EPS) estimates for NEWTEK Business Services in a research report issued to clients and investors on Wednesday, Zacks Investment Research reports. DA Davidson analyst P. Heckmann now forecasts that the business services provider will earn $0.40 per share for the quarter, down from their prior estimate of $0.41. DA Davidson also issued estimates for NEWTEK Business Services’ Q3 2018 earnings at $0.55 EPS, Q4 2018 earnings at $0.55 EPS, FY2018 earnings at $1.86 EPS and FY2019 earnings at $1.95 EPS.

Several other equities research analysts have also recently commented on the company. BidaskClub raised NEWTEK Business Services from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 27th. Zacks Investment Research cut NEWTEK Business Services from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 3rd. Finally, ValuEngine cut NEWTEK Business Services from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 31st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. NEWTEK Business Services has a consensus rating of “Hold” and an average price target of $18.50.

NEWTEK Business Services (NASDAQ NEWT) opened at $16.47 on Friday. The firm has a market capitalization of $296.53, a P/E ratio of 9.98, a PEG ratio of 2.86 and a beta of 1.21. NEWTEK Business Services has a 1 year low of $15.61 and a 1 year high of $19.40. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.42 and a quick ratio of 0.42.

Several large investors have recently bought and sold shares of the stock. Suntrust Banks Inc. acquired a new stake in shares of NEWTEK Business Services in the fourth quarter valued at approximately $258,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of NEWTEK Business Services by 117.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 130,748 shares of the business services provider’s stock valued at $2,418,000 after purchasing an additional 70,744 shares during the last quarter. Mckinley Capital Management LLC Delaware increased its holdings in shares of NEWTEK Business Services by 2.5% in the fourth quarter. Mckinley Capital Management LLC Delaware now owns 155,216 shares of the business services provider’s stock valued at $2,870,000 after purchasing an additional 3,787 shares during the last quarter. Fusion Family Wealth LLC increased its holdings in shares of NEWTEK Business Services by 259.4% in the fourth quarter. Fusion Family Wealth LLC now owns 8,625 shares of the business services provider’s stock valued at $159,000 after purchasing an additional 6,225 shares during the last quarter. Finally, Stifel Financial Corp increased its holdings in shares of NEWTEK Business Services by 55.4% in the third quarter. Stifel Financial Corp now owns 47,302 shares of the business services provider’s stock valued at $844,000 after purchasing an additional 16,866 shares during the last quarter. 19.54% of the stock is owned by hedge funds and other institutional investors.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Tuesday, March 20th will be issued a $0.40 dividend. The ex-dividend date is Monday, March 19th. This represents a $1.60 annualized dividend and a dividend yield of 9.71%. NEWTEK Business Services’s dividend payout ratio is presently 106.67%.

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About NEWTEK Business Services

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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