Analysts Set NEWTEK Business Services Corp (NASDAQ:NEWT) PT at $19.17
Shares of NEWTEK Business Services Corp (NASDAQ:NEWT) have been assigned a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $19.17.
Several equities research analysts recently weighed in on NEWT shares. TheStreet raised NEWTEK Business Services from a “c+” rating to a “b” rating in a report on Wednesday, May 15th. Zacks Investment Research raised NEWTEK Business Services from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Saturday, August 10th. BidaskClub downgraded NEWTEK Business Services from a “hold” rating to a “sell” rating in a report on Saturday, August 10th. Finally, ValuEngine downgraded NEWTEK Business Services from a “buy” rating to a “hold” rating in a report on Thursday, July 18th.
In other news, CEO Barry Sloane acquired 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $20.94 per share, with a total value of $41,880.00. Following the acquisition, the chief executive officer now directly owns 1,029,906 shares in the company, valued at approximately $21,566,231.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have purchased 2,948 shares of company stock worth $61,636. 6.70% of the stock is currently owned by company insiders.
Shares of NEWT stock traded up $0.22 during trading hours on Monday, reaching $21.55. The company’s stock had a trading volume of 147,209 shares, compared to its average volume of 108,011. The firm’s 50 day simple moving average is $21.72 and its 200-day simple moving average is $21.18. The company has a market capitalization of $413.66 million, a price-to-earnings ratio of 11.11 and a beta of 1.29. NEWTEK Business Services has a fifty-two week low of $15.59 and a fifty-two week high of $24.12. The company has a quick ratio of 0.35, a current ratio of 0.34 and a debt-to-equity ratio of 0.34.
NEWTEK Business Services (NASDAQ:NEWT) last issued its earnings results on Tuesday, August 6th. The business services provider reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.01. NEWTEK Business Services had a return on equity of 9.87% and a net margin of 68.61%. The firm had revenue of $14.15 million for the quarter, compared to the consensus estimate of $14.33 million. Sell-side analysts predict that NEWTEK Business Services will post 2.55 earnings per share for the current year.
About NEWTEK Business Services
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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