NEWTEK Business Services (NASDAQ:NEWT) Lowered to “Hold” at ValuEngine

ValuEngine downgraded shares of NEWTEK Business Services (NASDAQ:NEWT) from a buy rating to a hold rating in a research note issued to investors on Thursday, ValuEngine reports.

Several other equities research analysts have also issued reports on NEWT. BidaskClub lowered shares of Weyco Group from a sell rating to a strong sell rating in a report on Saturday, July 13th. Zacks Investment Research raised shares of HB Fuller from a sell rating to a hold rating in a report on Wednesday, July 3rd. Finally, TheStreet lowered shares of YRC Worldwide from a c rating to a d+ rating in a report on Wednesday, May 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. NEWTEK Business Services currently has an average rating of Hold and an average price target of $19.17.

Shares of NEWT stock opened at $21.80 on Thursday. NEWTEK Business Services has a 1 year low of $15.59 and a 1 year high of $24.24. The business’s fifty day moving average is $22.46. The company has a market capitalization of $416.71 million, a price-to-earnings ratio of 11.24 and a beta of 1.33. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.35 and a quick ratio of 0.35.

NEWTEK Business Services (NASDAQ:NEWT) last announced its quarterly earnings results on Wednesday, May 1st. The business services provider reported $0.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.03. The firm had revenue of $13.76 million for the quarter. NEWTEK Business Services had a net margin of 70.19% and a return on equity of 8.99%. As a group, equities analysts anticipate that NEWTEK Business Services will post 2.25 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a $0.46 dividend. This is a positive change from NEWTEK Business Services’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $1.84 annualized dividend and a dividend yield of 8.44%. NEWTEK Business Services’s dividend payout ratio is presently 94.85%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Private Advisor Group LLC grew its holdings in shares of NEWTEK Business Services by 47.5% in the 1st quarter. Private Advisor Group LLC now owns 91,206 shares of the business services provider’s stock worth $1,791,000 after purchasing an additional 29,366 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of NEWTEK Business Services by 4.9% in the 2nd quarter. Commonwealth Equity Services LLC now owns 58,629 shares of the business services provider’s stock worth $1,348,000 after purchasing an additional 2,736 shares during the last quarter. Stifel Financial Corp grew its holdings in shares of NEWTEK Business Services by 5.3% in the 4th quarter. Stifel Financial Corp now owns 55,472 shares of the business services provider’s stock worth $967,000 after purchasing an additional 2,808 shares during the last quarter. HRT Financial LLC bought a new stake in shares of NEWTEK Business Services in the 4th quarter worth about $754,000. Finally, American Asset Management Inc. grew its holdings in shares of NEWTEK Business Services by 12.4% in the 1st quarter. American Asset Management Inc. now owns 32,827 shares of the business services provider’s stock worth $645,000 after purchasing an additional 3,615 shares during the last quarter. 18.49% of the stock is currently owned by institutional investors and hedge funds.

NEWTEK Business Services Company Profile

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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