$10.52 Million in Sales Expected for NEWTEK Business Services Corp (NEWT) This Quarter
Equities analysts expect that NEWTEK Business Services Corp (NASDAQ:NEWT) will announce $10.52 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for NEWTEK Business Services’ earnings, with the highest sales estimate coming in at $10.84 million and the lowest estimate coming in at $10.20 million. NEWTEK Business Services reported sales of $8.99 million during the same quarter last year, which indicates a positive year over year growth rate of 17%. The firm is expected to report its next quarterly earnings report on Thursday, May 3rd.
According to Zacks, analysts expect that NEWTEK Business Services will report full-year sales of $10.52 million for the current fiscal year, with estimates ranging from $44.00 million to $49.19 million. For the next fiscal year, analysts expect that the firm will report sales of $60.60 million per share. Zacks Investment Research’s sales averages 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 posted its quarterly earnings results on Monday, March 5th. The business services provider reported $0.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.04). The company had revenue of $10.42 million during the quarter, compared to the consensus estimate of $10.08 million. NEWTEK Business Services had a net margin of 107.74% and a return on equity of 8.63%.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Macquarie Group Ltd. purchased a new position in NEWTEK Business Services during the 4th quarter worth approximately $120,000. Fusion Family Wealth LLC grew its position in NEWTEK Business Services by 259.4% during the 4th quarter. Fusion Family Wealth LLC now owns 8,625 shares of the business services provider’s stock worth $159,000 after purchasing an additional 6,225 shares in the last quarter. Ameriprise Financial Inc. purchased a new position in NEWTEK Business Services during the 2nd quarter worth approximately $171,000. Quadrature Capital Ltd purchased a new position in NEWTEK Business Services during the 4th quarter worth approximately $246,000. Finally, Suntrust Banks Inc. purchased a new position in NEWTEK Business Services during the 4th quarter worth approximately $258,000. Hedge funds and other institutional investors own 23.15% of the company’s stock.
NEWT stock traded up $0.21 during midday trading on Thursday, hitting $18.81. The company’s stock had a trading volume of 252,550 shares, compared to its average volume of 94,419. The company has a market capitalization of $347.18, a PE ratio of 8.36, a P/E/G ratio of 3.34 and a beta of 1.19. NEWTEK Business Services has a 52 week low of $15.68 and a 52 week high of $19.40. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.42 and a quick ratio of 0.42.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Tuesday, March 20th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 8.51%. The ex-dividend date is Monday, March 19th. NEWTEK Business Services’s payout ratio is 78.22%.
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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