NewtekOne (NASDAQ:NEWT) Releases FY 2024 Earnings Guidance

NewtekOne (NASDAQ:NEWT) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 1.850-2.050 for the period, compared to the consensus EPS estimate of 1.840. The company issued revenue guidance of -.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Piper Sandler cut their price target on NewtekOne from $13.00 to $11.00 and set a neutral rating for the company in a report on Monday, March 18th. Keefe, Bruyette & Woods dropped their target price on shares of NewtekOne from $16.00 to $13.00 and set a market perform rating for the company in a report on Wednesday, March 20th. B. Riley restated a buy rating and issued a $18.00 price objective (down from $19.00) on shares of NewtekOne in a research report on Thursday, March 7th. Finally, StockNews.com raised NewtekOne from a sell rating to a hold rating in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $14.50.

NewtekOne Price Performance

NewtekOne stock traded up $0.23 during midday trading on Thursday, reaching $12.82. 56,751 shares of the stock traded hands, compared to its average volume of 141,270. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 4.83. NewtekOne has a 12 month low of $10.07 and a 12 month high of $19.36. The stock’s fifty day moving average is $11.23 and its 200-day moving average is $12.50. The stock has a market cap of $328.70 million, a P/E ratio of 7.98 and a beta of 1.23.

NewtekOne (NASDAQ:NEWT) last released its quarterly earnings results on Wednesday, March 6th. The business services provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.05). NewtekOne had a return on equity of 20.04% and a net margin of 15.19%. The company had revenue of $75.60 million during the quarter, compared to analysts’ expectations of $62.99 million. During the same quarter in the prior year, the business posted $0.06 EPS. As a group, equities research analysts anticipate that NewtekOne will post 1.83 EPS for the current year.

NewtekOne Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 5.93%. This is an increase from NewtekOne’s previous quarterly dividend of $0.18. The ex-dividend date was Thursday, March 28th. NewtekOne’s dividend payout ratio is presently 46.91%.

About NewtekOne

NewtekOne, Inc operates as the bank holding company for Newtek Bank, National Association that engages in the provision of various business and financial solutions under the Newtek brand name to the small- and medium-sized business market. The company accepts demand, savings, NOW, money market, and time deposits; and provides loans including SBA loans, commercial and industrial loans, and commercial real estate loans.