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Stock Of Newtek Business Services Corp. (NASDAQ: NEWT) Dropped By -44.64 Percent Over The Past Month, Is There Room For Downside?

Newtek Business Services Corp. (NASDAQ:NEWT)’s traded shares stood at 1.25 million during the last session, with the company’s beta value hitting 1.38. At the close of trading, the stock’s price was $11.41, to imply a decrease of -4.20% or -$0.5 in intraday trading. The NEWT share’s 52-week high remains $28.42, putting it -149.08% down since that peak but still an impressive 1.49% since price per share fell to its 52-week low of $11.24. The company has a valuation of $306.70M, with an average of 0.47 million shares in intraday trading volume over the past 10 days and average of 300.00K shares over the past 3 months.

Analysts have given a consensus recommendation of a Hold for Newtek Business Services Corp. (NEWT), translating to a mean rating of 3.00. Of 4 analyst(s) looking at the stock, 0 analyst(s) give NEWT a Sell rating. 0 of those analysts rate the stock as Overweight while 4 advise Hold as 0 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at $0.66.

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Newtek Business Services Corp. (NASDAQ:NEWT) trade information

After registering a -4.20% downside in the last session, Newtek Business Services Corp. (NEWT) has traded red over the past five days. The stock hit a weekly high of 13.39 this Friday, 03/17/23, dropping -4.20% in its intraday price action. The 5-day price performance for the stock is -8.28%, and -44.64% over 30 days. With these gigs, the year-to-date price performance is -29.78%. Short interest in Newtek Business Services Corp. (NASDAQ:NEWT) saw shorts transact 2.03 million shares and set a 8.33 days time to cover.

Newtek Business Services Corp. (NEWT) estimates and forecasts

Looking at statistics comparing Newtek Business Services Corp. share performance against respective industry, we note that the company has outperformed competitors. Newtek Business Services Corp. (NEWT) shares are -46.95% down over the last 6 months, with its year-to-date growth rate higher than industry average at 7.01% against 0.00%. The rating firms project that company’s revenue will shrink -19.00% compared to the previous financial year.

Revenue forecast for the current quarter as set by 4 analysts is $24.77 million. Meanwhile, for the quarter ending Mar 2023, a total of 2 analyst(s) estimate revenue growth to $28.03 million.Earnings reports from the last fiscal year show that sales brought in $24.8 million and $20.35 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to fall -0.10% before jumping 37.70% in the following quarter.

An assessment of the company’s 5-year growth patterns shows that annual earnings grew an estimated 14.50% for the past 5-year period. While 2023 is set for a 132.20% return in earnings, projections for the next 5 years are at 3.00% annually.

NEWT Dividends

Newtek Business Services Corp. has its next earnings report out between May 02 and May 08. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Newtek Business Services Corp. has a forward dividend ratio of 0.72, with the share yield ticking at 6.31% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

Newtek Business Services Corp. (NASDAQ:NEWT)’s Major holders

Newtek Business Services Corp. insiders hold 6.31% of total outstanding shares, with institutional holders owning 15.86% of the shares at 16.93% float percentage. In total, 15.86% institutions holds shares in the company, led by Invesco Ltd. As of Sep 29, 2022, the company held over 0.68 million shares (or 2.79% of shares), all amounting to roughly $11.13 million.

The next major institution holding the largest number of shares is Royce & Associates LP with 0.45 million shares, or about 1.83% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $7.28 million.

We also have Invesco ETF Tr-Invesco KBW High Div Yld Financial ETF and VanEck ETF Trust -VanEck BDC Income ETF as the top two Mutual Funds with the largest holdings of the Newtek Business Services Corp. (NEWT) shares. Going by data provided on Dec 30, 2022, Invesco ETF Tr-Invesco KBW High Div Yld Financial ETF holds roughly 0.68 million shares. This is just over 2.80% of the total shares, with a market valuation of $11.11 million. Data from the same date shows that the other fund manager holds a little less at 0.33 million, or 1.35% of the shares, all valued at about 5.37 million.

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