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 Trading Down 3.4 %

NASDAQ:NEWT opened at $11.26 on Friday. The company’s 50 day moving average is $13.04 and its 200-day moving average is $12.32. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 4.96. NewtekOne has a 12 month low of $10.07 and a 12 month high of $17.58. The firm has a market cap of $278.50 million, a price-to-earnings ratio of 7.26 and a beta of 1.30.

NewtekOne (NASDAQ:NEWT) last issued its quarterly earnings results on Monday, August 5th. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $59.68 million. During the same period last year, the business posted $0.26 earnings per share. Equities analysts anticipate that NewtekOne will post 1.92 EPS for the current year.

NewtekOne Dividend Announcement

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

Analyst Ratings Changes

Separately, B. Riley lowered shares of NewtekOne from a buy rating to a neutral rating and dropped their price target for the stock from $16.00 to $13.00 in a research report on Wednesday.

Insider Transactions at NewtekOne

In related news, CEO Barry Sloane acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was acquired at an average price of $12.92 per share, for a total transaction of $64,600.00. Following the completion of the acquisition, the chief executive officer now owns 1,140,674 shares of the company’s stock, valued at approximately $14,737,508.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Michael Scott Price purchased 2,000 shares of NewtekOne stock in a transaction dated Monday, June 17th. The stock was bought at an average price of $12.59 per share, for a total transaction of $25,180.00. Following the completion of the acquisition, the chief financial officer now directly owns 21,681 shares of the company’s stock, valued at $272,963.79. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Barry Sloane bought 5,000 shares of NewtekOne stock in a transaction that occurred on Monday, June 17th. The stock was bought at an average cost of $12.92 per share, with a total value of $64,600.00. Following the completion of the purchase, the chief executive officer now owns 1,140,674 shares in the company, valued at approximately $14,737,508.08. The disclosure for this purchase can be found here. Insiders acquired a total of 14,649 shares of company stock worth $183,352 in the last quarter. 6.40% of the stock is owned by company insiders.

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.