According to Zacks, “Newtek Capital, Inc. is the result of combining the businesses previously owned by BJB Holdings, Inc. and REXX Environmental Corporation and operates as a holding company for a network of partner companies in a collaborative and coordinated effort to develop successful companies in a number of existing and emerging technology industries.”
Separately, StockNews.com assumed coverage on Newtek Business Services in a Thursday, March 31 research note. They issued a “holding” rating for the company.
Shares of Newtek Business Services Shares opened at $25.62 on Tuesday. Newtek Business Services has a one-year minimum of $24.00 and a one-year maximum of $38.78. The company has a market capitalization of $577.65 million, a price-earnings ratio of 6.92 and a beta of 1.09. The company has a debt ratio of 1.04, a quick ratio of 3.80 and a current ratio of 3.80. The company’s 50-day moving average price is $26.66 and its 200-day moving average price is $27.96.
Newtek Business Services (NASDAQ: NEWT – Get a rating) last reported results on Wednesday, February 23. The business services provider reported earnings per share (EPS) of $0.66 for the quarter, beating the consensus estimate of $0.61 by $0.05. The company posted revenue of $24.80 million in the quarter, compared to $14.29 million expected by analysts. Newtek Business Services achieved a return on equity of 21.02% and a net margin of 99.71%. In the same quarter last year, the company earned $0.45 per share. On average, analysts expect Newtek Business Services to post 2.71 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently changed their holdings to NEWT. Royce & Associates LP acquired a new position in Newtek Business Services during the 4th quarter at a value of $24,435,000. Invesco Ltd. increased its stake in Newtek Business Services by 8.4% during the 4th quarter. Invesco Ltd. now owns 717,302 shares of the business services provider worth $19,819,000 after purchasing an additional 55,315 shares last quarter. Van ECK Associates Corp increased its stake in Newtek Business Services by 14.8% in the 4th quarter. Van ECK Associates Corp now owns 370,509 shares of the business services provider worth $10,237,000 after buying an additional 47,634 shares in the last quarter. Marshall Wace LLP increased its stake in Newtek Business Services by 1,542.8% in the fourth quarter. Marshall Wace LLP now owns 309,625 shares of the business services provider worth $8,555,000 after buying an additional 290,778 shares in the last quarter. Finally, Two Sigma Investments LP increased its stake in Newtek Business Services by 977.1% during the 3rd quarter. Two Sigma Investments LP now owns 129,427 shares of the business services provider worth $3,589,000 after buying an additional 117,411 shares in the last quarter. 24.23% of the shares are held by institutional investors and hedge funds.
Newtek Business Services Company Profile (Get a rating)
Newtek Business Services Corp. is a business development company specializing in providing financial and business services to the small and medium business market in the United States. The company is also looking to invest in early-stage companies. The company seeks to make debt and equity investments.
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