NewStar Financial, Inc. (NEWS) Issues Earnings Results, Misses Expectations By $0.05 EPS
NewStar Financial, Inc. (NASDAQ:NEWS) released its quarterly earnings data on Wednesday. The credit services provider reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by $0.05, MarketWatch Earnings reports. The company had revenue of $20.19 million during the quarter, compared to the consensus estimate of $24.32 million. NewStar Financial had a net margin of 8.98% and a return on equity of 3.91%.
NewStar Financial (NEWS) traded down 5.15% during midday trading on Thursday, reaching $10.50. The company had a trading volume of 44,847 shares. The company has a market capitalization of $441.77 million, a PE ratio of 19.09 and a beta of 2.03. NewStar Financial has a 12-month low of $8.03 and a 12-month high of $11.49. The stock has a 50-day moving average price of $10.79 and a 200 day moving average price of $10.12.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 29th will be issued a $0.02 dividend. The ex-dividend date is Friday, August 25th. This represents a $0.08 dividend on an annualized basis and a yield of 0.76%. NewStar Financial’s dividend payout ratio is presently 14.29%.
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NEWS has been the subject of a number of recent analyst reports. ValuEngine downgraded NewStar Financial from a “buy” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research downgraded NewStar Financial from a “buy” rating to a “hold” rating in a report on Wednesday, April 19th. Finally, Keefe, Bruyette & Woods set a $11.00 price objective on NewStar Financial and gave the company a “hold” rating in a report on Monday, April 10th.
A number of institutional investors have recently added to or reduced their stakes in NEWS. Renaissance Technologies LLC bought a new position in NewStar Financial during the fourth quarter worth about $1,995,000. Second Curve Capital LLC increased its position in NewStar Financial by 11.2% in the first quarter. Second Curve Capital LLC now owns 1,336,049 shares of the credit services provider’s stock worth $14,135,000 after buying an additional 135,000 shares during the period. State Street Corp increased its position in NewStar Financial by 2.1% in the fourth quarter. State Street Corp now owns 429,588 shares of the credit services provider’s stock worth $3,974,000 after buying an additional 8,902 shares during the period. Trexquant Investment LP bought a new position in NewStar Financial during the first quarter worth about $493,000. Finally, Prudential Financial Inc. bought a new position in NewStar Financial during the first quarter worth about $213,000. Institutional investors and hedge funds own 73.63% of the company’s stock.
About NewStar Financial
NewStar Financial, Inc (NewStar) is a commercial finance company. The Company operates through two segments: Commercial Lending and Asset Management. The Commercial Lending segment represents its direct lending activities, which are focused on providing a range of flexible senior secured debt options to mid-sized companies.
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