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 (EPS) guidance of 1.850-2.050 for the period, compared to the consensus estimate of 1.840. The company issued revenue guidance of -.

NewtekOne Stock Up 11.3 %

NASDAQ NEWT traded up $1.25 on Tuesday, reaching $12.33. The company had a trading volume of 386,307 shares, compared to its average volume of 141,265. The firm has a market capitalization of $316.14 million, a PE ratio of 7.65 and a beta of 1.23. The firm has a 50-day moving average of $11.19 and a 200-day moving average of $12.51. NewtekOne has a 1 year low of $10.07 and a 1 year high of $19.36. The company has a debt-to-equity ratio of 4.83, a current ratio of 1.10 and a quick ratio of 1.10.

NewtekOne (NASDAQ:NEWT) last released its quarterly earnings results on Wednesday, March 6th. The business services provider reported $0.53 earnings per share (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 analysts’ expectations of $62.99 million. NewtekOne had a return on equity of 20.04% and a net margin of 15.19%. During the same period last year, the firm earned $0.06 EPS. On average, equities research analysts anticipate that NewtekOne will post 1.83 EPS for the current fiscal year.

NewtekOne Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a $0.19 dividend. The ex-dividend date was Thursday, March 28th. This represents a $0.76 dividend on an annualized basis and a yield of 6.16%. This is an increase from NewtekOne’s previous quarterly dividend of $0.18. NewtekOne’s dividend payout ratio is currently 46.91%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NEWT. StockNews.com cut NewtekOne from a hold rating to a sell rating in a research note on Friday, April 26th. Keefe, Bruyette & Woods reduced their price objective 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. Piper Sandler dropped their target price on shares of NewtekOne from $13.00 to $11.00 and set a neutral rating for the company in a research report on Monday, March 18th. Finally, B. Riley reaffirmed a buy rating and set a $18.00 price target (down previously from $19.00) on shares of NewtekOne in a research report on Thursday, March 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, NewtekOne currently has a consensus rating of Hold and a consensus price target of $14.50.

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.