NEWTEK Business Services Corp (NASDAQ:NEWT) Given Average Recommendation of “Hold” by Analysts

Shares of NEWTEK Business Services Corp (NASDAQ:NEWT) have been given a consensus rating of “Hold” by the six research firms that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has given a buy recommendation to the company.

Several brokerages recently weighed in on NEWT. LADENBURG THALM/SH SH cut NEWTEK Business Services from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 11th. They noted that the move was a valuation call. TheStreet upgraded NEWTEK Business Services from a “c” rating to a “b-” rating in a research report on Friday, August 7th. Zacks Investment Research cut NEWTEK Business Services from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 11th. Finally, BidaskClub upgraded NEWTEK Business Services from a “hold” rating to a “buy” rating in a research report on Tuesday, September 15th.

Shares of NASDAQ:NEWT traded up $0.15 during trading on Tuesday, hitting $18.62. The stock had a trading volume of 151,383 shares, compared to its average volume of 244,115. The stock has a 50-day simple moving average of $19.29 and a two-hundred day simple moving average of $16.80. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $389.29 million, a price-to-earnings ratio of 9.04 and a beta of 1.30. NEWTEK Business Services has a 12-month low of $7.59 and a 12-month high of $23.73.

NEWTEK Business Services (NASDAQ:NEWT) last announced its quarterly 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 net margin of 44.30% and a return on equity of 18.93%. As a group, sell-side analysts forecast that NEWTEK Business Services will post 2 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st will be issued a $0.58 dividend. This is a positive change from NEWTEK Business Services’s previous quarterly dividend of $0.56. This represents a $2.32 annualized dividend and a yield of 12.46%. The ex-dividend date of this dividend is Friday, September 18th. NEWTEK Business Services’s dividend payout ratio (DPR) is presently 99.57%.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Belpointe Asset Management LLC grew its holdings in NEWTEK Business Services by 8.1% in the second quarter. Belpointe Asset Management LLC now owns 10,675 shares of the business services provider’s stock valued at $195,000 after purchasing an additional 800 shares during the period. Commonwealth Equity Services LLC grew its holdings in NEWTEK Business Services by 1.4% in the second quarter. Commonwealth Equity Services LLC now owns 63,226 shares of the business services provider’s stock valued at $1,151,000 after purchasing an additional 853 shares during the period. D.A. Davidson & CO. grew its holdings in NEWTEK Business Services by 8.0% in the second quarter. D.A. Davidson & CO. now owns 13,502 shares of the business services provider’s stock valued at $246,000 after purchasing an additional 1,000 shares during the period. Invesco Ltd. boosted its stake in shares of NEWTEK Business Services by 0.3% in the first quarter. Invesco Ltd. now owns 444,338 shares of the business services provider’s stock worth $5,870,000 after acquiring an additional 1,396 shares during the last quarter. Finally, Stifel Financial Corp boosted its stake in shares of NEWTEK Business Services by 4.5% in the second quarter. Stifel Financial Corp now owns 53,555 shares of the business services provider’s stock worth $976,000 after acquiring an additional 2,300 shares during the last quarter. 14.57% of the stock is currently owned by institutional investors.

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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