Wall Street analysts expect NEWTEK Business Services Corp (NASDAQ:NEWT) to post $12.85 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for NEWTEK Business Services’ earnings, with the lowest sales estimate coming in at $12.72 million and the highest estimate coming in at $12.98 million. NEWTEK Business Services reported sales of $10.42 million in the same quarter last year, which would indicate a positive year over year growth rate of 23.3%. The firm is expected to report its next earnings results on Monday, March 4th.

According to Zacks, analysts expect that NEWTEK Business Services will report full year sales of $47.71 million for the current year, with estimates ranging from $47.58 million to $47.84 million. For the next fiscal year, analysts forecast that the firm will post sales of $58.66 million, with estimates ranging from $57.20 million to $60.12 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for NEWTEK Business Services.

NEWTEK Business Services (NASDAQ:NEWT) last announced its quarterly earnings data on Wednesday, November 7th. The business services provider reported $0.50 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 for the quarter, compared to analyst estimates of $11.85 million.

Several equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of NEWTEK Business Services from a “sell” rating to a “hold” rating in a research note on Tuesday. BidaskClub lowered shares of NEWTEK Business Services from a “hold” rating to a “sell” rating in a research note on Saturday. Compass Point set a $19.00 price target on shares of NEWTEK Business Services and gave the stock a “hold” rating in a research note on Thursday, August 2nd. ValuEngine upgraded shares of NEWTEK Business Services from a “hold” rating to a “buy” rating in a research note on Saturday, November 10th. Finally, Singular Research reiterated a “not rated” rating on shares of NEWTEK Business Services in a research note on Monday, August 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $20.67.

Shares of NEWT opened at $20.16 on Friday. NEWTEK Business Services has a twelve month low of $16.07 and a twelve month high of $24.24. The firm has a market capitalization of $386.09 million, a PE ratio of 15.60, a PEG ratio of 3.57 and a beta of 1.34. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.30.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Tuesday, December 18th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, December 17th. This represents a $2.00 dividend on an annualized basis and a yield of 9.92%. This is an increase from NEWTEK Business Services’s previous quarterly dividend of $0.48. NEWTEK Business Services’s payout ratio is currently 108.47%.

Hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC acquired a new position in NEWTEK Business Services during the first quarter worth about $217,000. JPMorgan Chase & Co. raised its position in NEWTEK Business Services by 197.6% during the third quarter. JPMorgan Chase & Co. now owns 11,503 shares of the business services provider’s stock worth $241,000 after acquiring an additional 7,638 shares during the last quarter. LPL Financial LLC raised its position in NEWTEK Business Services by 69.0% during the first quarter. LPL Financial LLC now owns 19,157 shares of the business services provider’s stock worth $346,000 after acquiring an additional 7,820 shares during the last quarter. Virtu Financial LLC acquired a new position in NEWTEK Business Services during the third quarter worth about $378,000. Finally, Captrust Financial Advisors acquired a new position in NEWTEK Business Services during the second quarter worth about $389,000. 21.18% of the stock is currently owned by hedge funds and other 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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Earnings History and Estimates for NEWTEK Business Services (NASDAQ:NEWT)

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