NewtekOne (NASDAQ:NEWT) Releases FY 2024 Earnings Guidance

NewtekOne (NASDAQ:NEWT) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 1.850-2.050 for the period, compared to the consensus estimate of 1.840. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NEWT. Piper Sandler lowered their price target on NewtekOne from $13.00 to $11.00 and set a neutral rating on the stock in a report on Monday, March 18th. StockNews.com downgraded NewtekOne from a hold rating to a sell rating in a research report on Friday, April 26th. Keefe, Bruyette & Woods dropped their price objective on NewtekOne from $16.00 to $13.00 and set a market perform rating on the stock in a research note on Wednesday, March 20th. Finally, B. Riley reaffirmed a buy rating and set a $18.00 target price (down previously from $19.00) on shares of NewtekOne in a research note on Thursday, March 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $14.50.

NewtekOne Price Performance

NewtekOne stock traded up $1.25 during mid-day trading on Tuesday, hitting $12.33. The company’s stock had a trading volume of 386,307 shares, compared to its average volume of 141,265. The stock has a market capitalization of $316.14 million, a P/E ratio of 7.65 and a beta of 1.23. NewtekOne has a twelve month low of $10.07 and a twelve month high of $19.36. The stock’s fifty day moving average price is $11.19 and its two-hundred day moving average price is $12.51. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 4.83.

NewtekOne (NASDAQ:NEWT) last announced its earnings results on Wednesday, March 6th. The business services provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.05). NewtekOne had a return on equity of 20.04% and a net margin of 15.19%. The company had revenue of $75.60 million for the quarter, compared to analyst estimates of $62.99 million. During the same period last year, the firm earned $0.06 earnings per share. Research analysts forecast that NewtekOne will post 1.83 earnings per share for the current year.

NewtekOne Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 6.16%. This is a positive change from NewtekOne’s previous quarterly dividend of $0.18. NewtekOne’s payout ratio is currently 46.91%.

About NewtekOne

NewtekOne, Inc operates as the bank holding company for Newtek Bank, National Association that engages in the provision of various business and financial solutions under the Newtek brand name to the small- and medium-sized business market. The company accepts demand, savings, NOW, money market, and time deposits; and provides loans including SBA loans, commercial and industrial loans, and commercial real estate loans.