Newtek Narrows FY23 EPS From $1.70-$2.00 To $1.60-$1.80 Vs $1.72 Est.; Sees FY24 EPS $1.80-$2.00 Vs $2.27 Est.
Portfolio Pulse from Benzinga Newsdesk
Newtek has revised its FY23 EPS forecast from $1.70-$2.00 to $1.60-$1.80, which is lower than the estimated $1.72. The company also predicts FY24 EPS to be between $1.80-$2.00, lower than the $2.27 estimate.
November 08, 2023 | 1:22 am
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NEGATIVE IMPACT
Newtek has lowered its FY23 and FY24 EPS forecasts, both of which are below the current estimates. This could potentially impact the company's stock negatively in the short term.
Newtek's downward revision of its EPS forecasts for FY23 and FY24, both of which are below the current estimates, could be perceived negatively by investors. This could lead to selling pressure on the stock, potentially causing its price to decrease in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100