NEWTEK Business Services Corp (NEWT) Receives Average Recommendation of “Hold” from Analysts

NEWTEK Business Services Corp (NASDAQ:NEWT) has earned an average recommendation of “Hold” from the seven brokerages that are covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $19.00.

A number of equities analysts have commented on NEWT shares. Raymond James cut shares of NEWTEK Business Services from a “market perform” rating to an “underperform” rating in a research note on Tuesday, August 28th. Zacks Investment Research raised shares of NEWTEK Business Services from a “sell” rating to a “hold” rating in a research note on Tuesday, November 20th. BidaskClub raised shares of NEWTEK Business Services from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. Singular Research reaffirmed a “not rated” rating on shares of NEWTEK Business Services in a research note on Monday, August 27th. Finally, ValuEngine cut shares of NEWTEK Business Services from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd.

Several hedge funds have recently added to or reduced their stakes in NEWT. Millennium Management LLC purchased a new position in shares of NEWTEK Business Services during the 1st quarter worth about $217,000. JPMorgan Chase & Co. boosted its stake in shares of NEWTEK Business Services by 197.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,503 shares of the business services provider’s stock worth $241,000 after purchasing an additional 7,638 shares during the period. Virtu Financial LLC purchased a new position in shares of NEWTEK Business Services during the 3rd quarter worth about $378,000. Captrust Financial Advisors purchased a new position in shares of NEWTEK Business Services during the 2nd quarter worth about $389,000. Finally, GSA Capital Partners LLP purchased a new position in shares of NEWTEK Business Services during the 2nd quarter worth about $430,000. 20.71% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:NEWT opened at $20.88 on Wednesday. NEWTEK Business Services has a 52 week low of $16.07 and a 52 week high of $24.24. The firm has a market capitalization of $403.29 million, a price-to-earnings ratio of 11.80, a price-to-earnings-growth ratio of 3.73 and a beta of 1.41. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.38 and a quick ratio of 0.38.

NEWTEK Business Services (NASDAQ:NEWT) last issued its quarterly earnings data on Wednesday, November 7th. The business services provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. NEWTEK Business Services had a net margin of 102.01% and a return on equity of 8.51%. The business had revenue of $12.39 million during the quarter, compared to analysts’ expectations of $11.85 million. As a group, research analysts expect that NEWTEK Business Services will post 1.9 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Tuesday, December 18th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, December 17th. This is a boost from NEWTEK Business Services’s previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a dividend yield of 9.58%. NEWTEK Business Services’s payout ratio is currently 108.47%.

About NEWTEK Business Services

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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