Zacks: Analysts Expect NEWTEK Business Services Corp (NEWT) Will Announce Earnings of $0.55 Per Share
Equities research analysts expect that NEWTEK Business Services Corp (NASDAQ:NEWT) will report $0.55 earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have issued estimates for NEWTEK Business Services’ earnings. The highest EPS estimate is $0.61 and the lowest is $0.48. NEWTEK Business Services reported earnings of $0.46 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 19.6%. The firm is expected to issue its next earnings results on Monday, March 5th.
According to Zacks, analysts expect that NEWTEK Business Services will report full-year earnings of $1.83 per share for the current financial year, with EPS estimates ranging from $1.79 to $1.87. For the next financial year, analysts forecast that the business will post earnings of $1.91 per share, with EPS estimates ranging from $1.83 to $1.98. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that follow NEWTEK Business Services.
NEWTEK Business Services (NASDAQ:NEWT) last released its quarterly earnings results on Wednesday, November 1st. The business services provider reported ($0.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.55). NEWTEK Business Services had a return on equity of 7.97% and a net margin of 78.03%.
In related news, CEO Barry Sloane acquired 3,000 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were purchased at an average cost of $16.60 per share, with a total value of $49,800.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,006,113 shares of the company’s stock, valued at $16,701,475.80. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Richard J. Salute acquired 1,468 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were bought at an average cost of $17.07 per share, for a total transaction of $25,058.76. Following the completion of the acquisition, the director now directly owns 7,734 shares of the company’s stock, valued at $132,019.38. The disclosure for this purchase can be found here. Insiders have bought 8,068 shares of company stock worth $137,966 over the last three months. Corporate insiders own 6.70% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in NEWT. Ameriprise Financial Inc. purchased a new stake in shares of NEWTEK Business Services during the second quarter valued at $171,000. Van ECK Associates Corp grew its holdings in shares of NEWTEK Business Services by 27.2% during the second quarter. Van ECK Associates Corp now owns 141,029 shares of the business services provider’s stock valued at $2,297,000 after buying an additional 30,180 shares during the last quarter. OxFORD Asset Management LLP purchased a new stake in shares of NEWTEK Business Services during the second quarter valued at $936,000. Stifel Financial Corp grew its holdings in shares of NEWTEK Business Services by 2.8% during the second quarter. Stifel Financial Corp now owns 30,436 shares of the business services provider’s stock valued at $495,000 after buying an additional 823 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of NEWTEK Business Services by 13.5% during the second quarter. Goldman Sachs Group Inc. now owns 85,686 shares of the business services provider’s stock valued at $1,396,000 after buying an additional 10,185 shares during the last quarter. 20.98% of the stock is currently owned by hedge funds and other institutional investors.
NEWTEK Business Services (NEWT) opened at $17.82 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.26. NEWTEK Business Services has a 1-year low of $15.15 and a 1-year high of $19.40. The stock has a market cap of $320.83, a price-to-earnings ratio of 10.80, a price-to-earnings-growth ratio of 3.12 and a beta of 1.42.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Tuesday, March 20th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 8.98%. The ex-dividend date of this dividend is Monday, March 19th. NEWTEK Business Services’s dividend payout ratio (DPR) 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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