Analysts Set Newtek Business Services Corp. (NEWT) Price Target at $18.00

Newtek Business Services Corp. (NASDAQ:NEWT) has been assigned an average rating of “Buy” from the six research firms that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $18.00.

NEWT has been the topic of several recent research reports. Zacks Investment Research cut Newtek Business Services Corp. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 19th. ValuEngine raised Newtek Business Services Corp. from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Finally, BidaskClub raised Newtek Business Services Corp. from a “hold” rating to a “buy” rating in a report on Monday, July 24th.

Newtek Business Services Corp. (NASDAQ:NEWT) opened at 17.97 on Wednesday. The stock has a market capitalization of $313.38 million, a P/E ratio of 9.69 and a beta of 1.39. Newtek Business Services Corp. has a 1-year low of $13.76 and a 1-year high of $18.16. The firm’s 50 day moving average is $17.50 and its 200 day moving average is $16.95.

Newtek Business Services Corp. (NASDAQ:NEWT) last issued its quarterly earnings data on Wednesday, August 2nd. The business services provider reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The business had revenue of $9.90 million for the quarter, compared to analysts’ expectations of $9.19 million. Newtek Business Services Corp. had a return on equity of 7.97% and a net margin of 81.35%. On average, equities research analysts anticipate that Newtek Business Services Corp. will post $1.77 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 22nd were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 9.79%. This is a boost from Newtek Business Services Corp.’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, September 21st. Newtek Business Services Corp.’s dividend payout ratio is 93.62%.

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Large investors have recently added to or reduced their stakes in the stock. Fusion Family Wealth LLC raised its holdings in Newtek Business Services Corp. by 56.6% during the 2nd quarter. Fusion Family Wealth LLC now owns 6,935 shares of the business services provider’s stock valued at $113,000 after buying an additional 2,506 shares during the period. Ameriprise Financial Inc. purchased a new stake in Newtek Business Services Corp. during the 2nd quarter valued at $171,000. Trexquant Investment LP purchased a new stake in Newtek Business Services Corp. during the 1st quarter valued at $201,000. Arrowstreet Capital Limited Partnership purchased a new stake in Newtek Business Services Corp. during the 2nd quarter valued at $207,000. Finally, KCG Holdings Inc. purchased a new stake in Newtek Business S

NEWT has been the topic of several recent research reports. Zacks Investment Research cut Newtek Business Services Corp. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 19th. ValuEngine raised Newtek Business Services Corp. from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Finally, BidaskClub raised Newtek Business Services Corp. from a “hold” rating to a “buy” rating in a report on Monday, July 24th.

Newtek Business Services Corp. (NASDAQ:NEWT) opened at 17.97 on Wednesday. The stock has a market capitalization of $313.38 million, a P/E ratio of 9.69 and a beta of 1.39. Newtek Business Services Corp. has a 1-year low of $13.76 and a 1-year high of $18.16. The firm’s 50 day moving average is $17.50 and its 200 day moving average is $16.95.

Newtek Business Services Corp. (NASDAQ:NEWT) last issued its quarterly earnings data on Wednesday, August 2nd. The business services provider reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The business had revenue of $9.90 million for the quarter, compared to analysts’ expectations of $9.19 million. Newtek Business Services Corp. had a return on equity of 7.97% and a net margin of 81.35%. On average, equities research analysts anticipate that Newtek Business Services Corp. will post $1.77 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 22nd were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 9.79%. This is a boost from Newtek Business Services Corp.’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, September 21st. Newtek Business Services Corp.’s dividend payout ratio is 93.62%.

COPYRIGHT VIOLATION WARNING: This story was first published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this story on another domain, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright laws. The original version of this story can be viewed at https://ledgergazette.com/2017/10/10/analysts-set-newtek-business-services-corp-newt-price-target-at-18-00.html.

Large investors have recently added to or reduced their stakes in the stock. Fusion Family Wealth LLC raised its holdings in Newtek Business Services Corp. by 56.6% during the 2nd quarter. Fusion Family Wealth LLC now owns 6,935 shares of the business services provider’s stock valued at $113,000 after buying an additional 2,506 shares during the period. Ameriprise Financial Inc. purchased a new stake in Newtek Business Services Corp. during the 2nd quarter valued at $171,000. Trexquant Investment LP purchased a new stake in Newtek Business Services Corp. during the 1st quarter valued at $201,000. Arrowstreet Capital Limited Partnership purchased a new stake in Newtek Business Services Corp. during the 2nd quarter valued at $207,000. Finally, KCG Holdings Inc. purchased a new stake in Newtek Business Services Corp. during the 1st quarter valued at $227,000. Institutional investors own 22.83% of the company’s stock.

About Newtek Business Services Corp.

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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