Nuvei Co. (NASDAQ:NVEI) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Nuvei Co. (NASDAQ:NVEI) have received an average rating of “Moderate Buy” from the eighteen brokerages that are covering the company, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $32.06.

A number of equities research analysts have weighed in on NVEI shares. Scotiabank restated a “sector perform” rating and issued a $34.00 price objective on shares of Nuvei in a report on Tuesday, April 2nd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $34.00 price objective (up previously from $31.00) on shares of Nuvei in a research note on Tuesday, April 2nd. William Blair downgraded Nuvei from an “outperform” rating to a “market perform” rating in a report on Monday, April 1st. BMO Capital Markets reduced their price target on Nuvei from $30.00 to $28.00 and set an “outperform” rating for the company in a report on Thursday, March 7th. Finally, Citigroup lifted their price target on Nuvei from $27.00 to $34.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd.

Hedge Funds Weigh In On Nuvei

A number of institutional investors and hedge funds have recently modified their holdings of NVEI. Dixon Mitchell Investment Counsel Inc. bought a new position in Nuvei in the fourth quarter valued at about $30,845,000. Wellington Management Group LLP lifted its stake in shares of Nuvei by 12.8% in the 3rd quarter. Wellington Management Group LLP now owns 7,616,542 shares of the company’s stock worth $114,248,000 after purchasing an additional 865,984 shares during the period. Sylebra Capital LLC purchased a new position in shares of Nuvei in the third quarter worth approximately $8,095,000. NewGen Asset Management Ltd bought a new stake in Nuvei during the fourth quarter valued at approximately $11,160,000. Finally, Azora Capital LP purchased a new stake in Nuvei during the fourth quarter valued at approximately $10,239,000. 42.45% of the stock is currently owned by hedge funds and other institutional investors.

Nuvei Trading Up 0.2 %

NVEI opened at $32.44 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.60. Nuvei has a 52 week low of $13.32 and a 52 week high of $37.41. The stock has a market cap of $4.54 billion, a PE ratio of -811.00, a PEG ratio of 1.58 and a beta of 2.53. The business has a 50 day moving average of $32.21 and a 200-day moving average of $28.67.

Nuvei (NASDAQ:NVEI) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.05). Nuvei had a negative net margin of 0.39% and a positive return on equity of 6.50%. The firm had revenue of $335.11 million for the quarter, compared to analysts’ expectations of $326.11 million. Equities research analysts predict that Nuvei will post 1.22 earnings per share for the current fiscal year.

Nuvei Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Tuesday, May 21st were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $0.40 dividend on an annualized basis and a yield of 1.23%. Nuvei’s dividend payout ratio is presently -1,000.00%.

About Nuvei

Nuvei Corporation provides payment technology solutions to merchants and partners in North America, Europe, the Middle East and Africa, Latin America, and the Asia Pacific. The company's platform enables customers to pay and/or accept payments worldwide regardless of the location, device, or preferred payment method.