NewtekOne (NASDAQ:NEWT) Issues FY 2024 Earnings Guidance

NewtekOne (NASDAQ:NEWT) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share (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 -.

Wall Street Analysts Forecast Growth

NEWT has been the subject of a number of research reports. StockNews.com lowered NewtekOne from a hold rating to a sell rating in a research note on Friday, April 26th. B. Riley restated a buy rating and issued a $18.00 price target (down previously from $19.00) on shares of NewtekOne in a research report on Thursday, March 7th. Keefe, Bruyette & Woods decreased their price target on shares of NewtekOne from $16.00 to $13.00 and set a market perform rating on the stock in a research note on Wednesday, March 20th. Finally, Piper Sandler dropped their price objective on shares of NewtekOne from $13.00 to $11.00 and set a neutral rating for the company in a research note on Monday, March 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, NewtekOne presently has an average rating of Hold and an average target price of $14.50.

NewtekOne Trading Up 11.3 %

NEWT stock traded up $1.25 during trading on Tuesday, hitting $12.33. The company had a trading volume of 386,307 shares, compared to its average volume of 141,265. NewtekOne has a 52-week low of $10.07 and a 52-week high of $19.36. The company has a 50 day simple moving average of $11.19 and a 200-day simple moving average of $12.51. The firm has a market capitalization of $316.14 million, a P/E ratio of 7.65 and a beta of 1.23. 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 (NASDAQ:NEWT) last issued its earnings results on Wednesday, March 6th. The business services provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.05). NewtekOne had a net margin of 15.19% and a return on equity of 20.04%. The firm had revenue of $75.60 million for the quarter, compared to the consensus estimate of $62.99 million. During the same period last year, the firm earned $0.06 earnings per share. As a group, research analysts forecast that NewtekOne will post 1.83 earnings per share for the current fiscal year.

NewtekOne Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were given a dividend of $0.19 per share. This is an increase from NewtekOne’s previous quarterly dividend of $0.18. The ex-dividend date was Thursday, March 28th. This represents a $0.76 dividend on an annualized basis and a yield of 6.16%. NewtekOne’s dividend payout ratio (DPR) is 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.