Wall Street brokerages expect NEWTEK Business Services Corp (NASDAQ:NEWT) to announce $10.08 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for NEWTEK Business Services’ earnings, with estimates ranging from $9.97 million to $10.20 million. NEWTEK Business Services posted sales of $9.10 million in the same quarter last year, which suggests a positive year-over-year growth rate of 10.8%. The company is expected to issue its next quarterly earnings report after the market closes on Monday, March 5th.

According to Zacks, analysts expect that NEWTEK Business Services will report full-year sales of $10.08 million for the current financial year, with estimates ranging from $38.46 million to $38.70 million. For the next year, analysts expect that the company will report sales of $44.61 million per share, with estimates ranging from $44.00 million to $45.22 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for NEWTEK Business Services.

A number of brokerages have issued reports on NEWT. BidaskClub cut shares of NEWTEK Business Services from a “hold” rating to a “sell” rating in a report on Tuesday, January 23rd. Zacks Investment Research upgraded shares of NEWTEK Business Services from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Wednesday, November 8th. Finally, ValuEngine lowered shares of NEWTEK Business Services from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 31st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $18.50.

Shares of NEWTEK Business Services (NASDAQ:NEWT) traded up $0.54 during mid-day trading on Friday, reaching $17.01. 251,038 shares of the company’s stock were exchanged, compared to its average volume of 150,172. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.42 and a quick ratio of 0.42. NEWTEK Business Services has a 1-year low of $15.61 and a 1-year high of $19.40. The company has a market cap of $306.25, a PE ratio of 13.73, a price-to-earnings-growth ratio of 2.86 and a beta of 1.21.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Tuesday, March 20th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 19th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 9.41%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Commonwealth Equity Services Inc grew its position in shares of NEWTEK Business Services by 61.2% during the 3rd quarter. Commonwealth Equity Services Inc now owns 25,670 shares of the business services provider’s stock valued at $457,000 after purchasing an additional 9,744 shares in the last quarter. Stifel Financial Corp grew its position in shares of NEWTEK Business Services by 55.4% during the 3rd quarter. Stifel Financial Corp now owns 47,302 shares of the business services provider’s stock valued at $844,000 after purchasing an additional 16,866 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of NEWTEK Business Services by 13.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 85,686 shares of the business services provider’s stock valued at $1,396,000 after purchasing an additional 10,185 shares in the last quarter. Mckinley Capital Management LLC Delaware grew its position in shares of NEWTEK Business Services by 11.4% during the 3rd quarter. Mckinley Capital Management LLC Delaware now owns 151,429 shares of the business services provider’s stock valued at $2,699,000 after purchasing an additional 15,548 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its position in shares of NEWTEK Business Services by 6.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 183,660 shares of the business services provider’s stock valued at $3,273,000 after purchasing an additional 11,131 shares in the last quarter. Hedge funds and other institutional investors own 19.41% of the company’s stock.

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NEWTEK Business Services Company Profile

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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