NEWTEK Business Services (NEWT) Announces Quarterly Earnings Results

NEWTEK Business Services (NASDAQ:NEWT) released its earnings results on Wednesday. The business services provider reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.03, Fidelity Earnings reports. NEWTEK Business Services had a return on equity of 8.86% and a net margin of 105.34%.

Shares of NEWTEK Business Services stock traded up $1.19 during trading on Thursday, hitting $20.62. 222,210 shares of the stock traded hands, compared to its average volume of 208,717. The firm has a market cap of $373.03 million, a price-to-earnings ratio of 11.65, a P/E/G ratio of 3.48 and a beta of 1.34. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.31 and a quick ratio of 0.31. NEWTEK Business Services has a twelve month low of $16.07 and a twelve month high of $24.24.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Tuesday, December 18th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 9.70%. This is a positive change from NEWTEK Business Services’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Monday, December 17th. NEWTEK Business Services’s payout ratio is currently 108.47%.

Several brokerages have recently issued reports on NEWT. BidaskClub upgraded NEWTEK Business Services from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 15th. Raymond James lowered NEWTEK Business Services from a “market perform” rating to an “underperform” rating in a report on Tuesday, August 28th. Singular Research reiterated a “not rated” rating on shares of NEWTEK Business Services in a report on Monday, August 27th. Zacks Investment Research upgraded NEWTEK Business Services from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Tuesday, August 7th. Finally, Compass Point set a $19.00 price target on NEWTEK Business Services and gave the company a “hold” rating in a report on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. The stock has an average rating of “Hold” and an average target price of $20.67.

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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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Earnings History for NEWTEK Business Services (NASDAQ:NEWT)

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