NewtekOne (NASDAQ:NEWT) Releases FY 2024 Earnings Guidance

NewtekOne (NASDAQ:NEWT) issued an update on its FY 2024 earnings guidance on Thursday 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 1.900. The company issued revenue guidance of -. NewtekOne also updated its FY24 guidance to $1.85-2.05 EPS.

NewtekOne Stock Performance

Shares of NEWT opened at $11.26 on Friday. The company has a debt-to-equity ratio of 4.96, a current ratio of 1.42 and a quick ratio of 1.42. The firm has a 50-day moving average of $13.04 and a 200-day moving average of $12.32. The company has a market cap of $278.50 million, a PE ratio of 7.26 and a beta of 1.30. NewtekOne has a one year low of $10.07 and a one year high of $17.58.

NewtekOne (NASDAQ:NEWT) last released its quarterly earnings data on Monday, August 5th. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. NewtekOne had a return on equity of 18.99% and a net margin of 14.94%. The company had revenue of $81.37 million during the quarter, compared to analysts’ expectations of $59.68 million. During the same period last year, the firm posted $0.26 earnings per share. As a group, equities analysts forecast that NewtekOne will post 1.92 earnings per share for the current year.

NewtekOne Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Tuesday, July 9th were given a dividend of $0.19 per share. The ex-dividend date was Tuesday, July 9th. This represents a $0.76 annualized dividend and a yield of 6.75%. NewtekOne’s dividend payout ratio (DPR) is presently 49.03%.

Analysts Set New Price Targets

Separately, B. Riley downgraded NewtekOne from a buy rating to a neutral rating and decreased their target price for the company from $16.00 to $13.00 in a research report on Wednesday.

Insider Activity at NewtekOne

In other NewtekOne news, CEO Barry Sloane bought 6,649 shares of the stock in a transaction dated Wednesday, August 14th. The shares were bought at an average cost of $12.13 per share, with a total value of $80,652.37. Following the completion of the acquisition, the chief executive officer now owns 1,147,323 shares of the company’s stock, valued at $13,917,027.99. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Barry Sloane acquired 6,649 shares of the stock in a transaction on Wednesday, August 14th. The shares were purchased at an average price of $12.13 per share, for a total transaction of $80,652.37. Following the purchase, the chief executive officer now directly owns 1,147,323 shares in the company, valued at $13,917,027.99. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Michael Scott Price bought 2,000 shares of NewtekOne stock in a transaction dated Monday, June 17th. The shares were bought at an average cost of $12.59 per share, for a total transaction of $25,180.00. Following the completion of the acquisition, the chief financial officer now owns 21,681 shares in the company, valued at approximately $272,963.79. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 14,649 shares of company stock worth $183,352. Corporate insiders own 6.40% of the company’s stock.

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.