NewtekOne (NEWT) Scheduled to Post Quarterly Earnings on Monday

Posted by on May 6th, 2023

NewtekOne (NASDAQ:NEWT – Get Rating) will be issuing its quarterly earnings data after the market closes on Monday, May 8th. Analysts expect the company to announce earnings of $0.41 per share for the quarter. NewtekOne has set its FY 2023 guidance at $1.70-$2.00 EPS and its FY 2024 guidance at $2.80-$3.20 EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

NewtekOne (NASDAQ:NEWT – Get Rating) last issued its quarterly earnings results on Monday, February 27th. The business services provider reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.54). The business had revenue of $23.09 million for the quarter, compared to the consensus estimate of $26.21 million. NewtekOne had a net margin of 37.47% and a return on equity of 13.29%. On average, analysts expect NewtekOne to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

NewtekOne Stock Performance

Shares of NEWT opened at $11.58 on Friday. The company has a market cap of $295.98 million, a PE ratio of 8.64 and a beta of 1.28. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.29. The stock has a 50-day moving average price of $12.82 and a 200-day moving average price of $15.87. NewtekOne has a 12-month low of $10.80 and a 12-month high of $25.55.

NewtekOne Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 14th. Investors of record on Tuesday, April 4th were given a $0.18 dividend. The ex-dividend date of this dividend was Monday, April 3rd. This represents a $0.72 dividend on an annualized basis and a yield of 6.22%. NewtekOne’s payout ratio is 53.73%.

Wall Street Analysts Forecast Growth

NEWT has been the subject of a number of recent research reports. Piper Sandler initiated coverage on shares of NewtekOne in a report on Wednesday, February 22nd. They issued a “neutral” rating for the company. StockNews.com upgraded shares of NewtekOne from a “sell” rating to a “hold” rating in a report on Monday, May 1st. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of NewtekOne from $19.00 to $12.00 and set a “market perform” rating for the company in a report on Thursday, March 16th. Four equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $17.00.

Insider Transactions at NewtekOne

In other news, insider Nicolas Young bought 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 21st. The shares were bought at an average cost of $12.45 per share, with a total value of $37,350.00. Following the completion of the purchase, the insider now directly owns 31,539 shares in the company, valued at $392,660.55. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Nicolas Young bought 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 21st. The shares were bought at an average cost of $12.45 per share, with a total value of $37,350.00. Following the completion of the purchase, the insider now directly owns 31,539 shares in the company, valued at $392,660.55. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Barry Sloane bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 20th. The stock was purchased at an average cost of $11.74 per share, for a total transaction of $117,400.00. Following the completion of the purchase, the chief executive officer now owns 1,118,048 shares of the company’s stock, valued at $13,125,883.52. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 26,300 shares of company stock worth $348,913. 5.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Captrust Financial Advisors purchased a new position in NewtekOne during the 2nd quarter valued at $264,000. Virtu Financial LLC purchased a new position in NewtekOne during the 4th quarter valued at $248,000. Guggenheim Capital LLC purchased a new position in NewtekOne during the 1st quarter valued at $229,000. Ancora Advisors LLC increased its position in NewtekOne by 178.8% during the 4th quarter. Ancora Advisors LLC now owns 13,578 shares of the business services provider’s stock valued at $220,000 after purchasing an additional 8,707 shares during the period. Finally, Quantbot Technologies LP purchased a new position in NewtekOne during the 2nd quarter valued at $197,000. 14.91% of the stock is owned by hedge funds and other institutional investors.

About NewtekOne

(Get Rating)

NewtekOne, Inc is a non-diversified closed-end management investment company engaged in the provision of business and financial solutions. It offers loans, payments, payroll and benefits, web solutions, insurance, and technology solutions. The company was founded by Barry Sloane in 1998 and is headquartered in Boca Raton, FL.

Featured Stories

Earnings History for NewtekOne (NASDAQ:NEWT)

Receive News & Ratings for NewtekOne Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NewtekOne and related companies with MarketBeat.com's FREE daily email newsletter.