NewtekOne (NASDAQ:NEWT) Updates FY 2024 Earnings Guidance

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. B. Riley reiterated a buy rating and set a $18.00 target price (down from $19.00) on shares of NewtekOne in a research note on Thursday, March 7th. Piper Sandler dropped their price objective on shares of NewtekOne from $13.00 to $11.00 and set a neutral rating on the stock in a report on Monday, March 18th. StockNews.com lowered NewtekOne from a hold rating to a sell rating in a report on Friday, April 26th. Finally, 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 report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $14.50.

NewtekOne Stock Performance

NASDAQ NEWT traded down $0.08 on Monday, hitting $11.08. 135,991 shares of the company traded hands, compared to its average volume of 138,434. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 4.83. The business’s 50 day moving average price is $11.18 and its 200-day moving average price is $12.52. The company has a market capitalization of $284.07 million, a price-to-earnings ratio of 6.89 and a beta of 1.23. NewtekOne has a 52-week low of $10.07 and a 52-week high of $19.36.

NewtekOne (NASDAQ:NEWT) last announced its quarterly earnings data 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). The firm had revenue of $75.60 million for the quarter, compared to the consensus estimate of $62.99 million. NewtekOne had a net margin of 15.19% and a return on equity of 20.04%. During the same quarter in the previous year, the business earned $0.06 earnings per share. Equities analysts expect that NewtekOne will post 1.83 earnings per share for the current year.

NewtekOne Increases Dividend

The business also recently disclosed 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 is a positive change 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 6.86%. NewtekOne’s dividend payout ratio (DPR) is presently 46.91%.

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.