Newtek Business Services (NEWT) Set to Announce Earnings on Wednesday

Newtek Business Services (NASDAQ:NEWTGet Rating) will be posting its quarterly earnings results after the market closes on Wednesday, May 4th. Analysts expect Newtek Business Services to post earnings of $0.65 per share for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

Newtek Business Services (NASDAQ:NEWTGet Rating) last released its quarterly earnings data on Wednesday, February 23rd. The business services provider reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05. The company had revenue of $24.80 million during the quarter, compared to analysts’ expectations of $14.29 million. Newtek Business Services had a net margin of 99.71% and a return on equity of 21.02%. During the same quarter in the previous year, the company earned $0.45 earnings per share. On average, analysts expect Newtek Business Services to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

NEWT stock opened at $25.63 on Wednesday. The stock has a market capitalization of $577.88 million, a P/E ratio of 6.93 and a beta of 1.09. The firm has a 50-day simple moving average of $26.61 and a 200-day simple moving average of $27.88. The company has a quick ratio of 3.80, a current ratio of 3.80 and a debt-to-equity ratio of 1.04. Newtek Business Services has a 52 week low of $24.00 and a 52 week high of $38.78.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Monday, June 20th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, June 16th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 11.71%. This is a boost from Newtek Business Services’s previous quarterly dividend of $0.65. Newtek Business Services’s payout ratio is currently 70.27%.

A number of hedge funds have recently added to or reduced their stakes in the business. Marshall Wace LLP raised its holdings in Newtek Business Services by 1,542.8% in the 4th quarter. Marshall Wace LLP now owns 309,625 shares of the business services provider’s stock valued at $8,555,000 after acquiring an additional 290,778 shares during the last quarter. UBS Group AG raised its holdings in Newtek Business Services by 18.6% in the 3rd quarter. UBS Group AG now owns 62,709 shares of the business services provider’s stock valued at $1,738,000 after acquiring an additional 9,836 shares during the last quarter. Morgan Stanley raised its holdings in Newtek Business Services by 38.7% in the 3rd quarter. Morgan Stanley now owns 60,296 shares of the business services provider’s stock valued at $1,672,000 after acquiring an additional 16,824 shares during the last quarter. Millennium Management LLC acquired a new stake in Newtek Business Services in the 4th quarter valued at about $1,099,000. Finally, LPL Financial LLC raised its holdings in Newtek Business Services by 75.3% in the 4th quarter. LPL Financial LLC now owns 25,904 shares of the business services provider’s stock valued at $716,000 after acquiring an additional 11,125 shares during the last quarter. Institutional investors own 24.23% of the company’s stock.

A number of analysts have recently commented on the stock. Zacks Investment Research cut shares of Newtek Business Services from a “hold” rating to a “sell” rating in a research note on Tuesday. StockNews.com assumed coverage on shares of Newtek Business Services in a research note on Thursday, March 31st. They set a “hold” rating for the company.

About Newtek Business Services (Get Rating)

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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