NewtekOne (NASDAQ:NEWT) Issues FY 2024 Earnings Guidance

NewtekOne (NASDAQ:NEWT) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 1.850-2.050 for the period, compared to the consensus estimate of 1.890. The company issued revenue guidance of -. NewtekOne also updated its FY 2025 guidance to 2.000-2.250 EPS.

NewtekOne Price Performance

Shares of NEWT traded up $1.40 during mid-day trading on Wednesday, hitting $14.60. The company’s stock had a trading volume of 346,583 shares, compared to its average volume of 142,243. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 4.96. NewtekOne has a 1-year low of $10.07 and a 1-year high of $15.25. The firm has a market capitalization of $379.02 million, a P/E ratio of 8.49 and a beta of 1.29. The firm has a 50-day simple moving average of $12.49 and a 200 day simple moving average of $12.72.

NewtekOne (NASDAQ:NEWT) last announced its quarterly earnings results on Monday, August 5th. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. NewtekOne had a net margin of 14.94% and a return on equity of 18.99%. The business had revenue of $81.37 million during the quarter, compared to the consensus estimate of $59.68 million. During the same quarter last year, the firm posted $0.26 EPS. Analysts predict that NewtekOne will post 1.9 EPS for the current fiscal year.

NewtekOne Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Thursday, October 10th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 5.21%. The ex-dividend date was Thursday, October 10th. NewtekOne’s payout ratio is currently 44.19%.

Analyst Ratings Changes

Separately, B. Riley lowered shares of NewtekOne from a “buy” rating to a “neutral” rating and lowered their price target for the company from $16.00 to $13.00 in a research report on Wednesday, September 4th.

Insider Buying and Selling

In other news, CEO Barry Sloane acquired 40,134 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was acquired at an average price of $11.75 per share, with a total value of $471,574.50. Following the completion of the transaction, the chief executive officer now directly owns 1,187,457 shares in the company, valued at approximately $13,952,619.75. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders purchased 48,283 shares of company stock worth $569,472. 6.50% of the stock is owned by corporate insiders.

NewtekOne Company Profile

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.