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

Nuvei Co. (NASDAQ:NVEI) has been assigned a consensus rating of “Moderate Buy” from the eighteen ratings firms that are covering the stock, MarketBeat.com reports. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $32.06.

Several research analysts have recently weighed in on NVEI shares. Royal Bank of Canada lifted their target price on shares of Nuvei from $29.00 to $34.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. Scotiabank reissued a “sector perform” rating and issued a $34.00 target price on shares of Nuvei in a research report on Tuesday, April 2nd. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $34.00 target price (up from $31.00) on shares of Nuvei in a research report on Tuesday, April 2nd. Canaccord Genuity Group dropped their target price on shares of Nuvei from $40.00 to $34.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. Finally, William Blair downgraded shares of Nuvei from an “outperform” rating to a “market perform” rating in a research report on Monday, April 1st.

Nuvei Stock Up 0.2 %

NVEI stock opened at $32.38 on Friday. The firm’s 50-day moving average is $32.19 and its two-hundred day moving average is $28.45. The company has a market capitalization of $4.53 billion, a price-to-earnings ratio of -809.50, a price-to-earnings-growth ratio of 1.58 and a beta of 2.55. The company has a current ratio of 1.04, a quick 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.

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

Nuvei Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Tuesday, May 21st were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date was Monday, May 20th. Nuvei’s dividend payout ratio (DPR) is presently -1,000.00%.

Institutional Trading of Nuvei

A number of institutional investors have recently added to or reduced their stakes in NVEI. Covestor Ltd acquired a new stake in shares of Nuvei in the first quarter worth $58,000. Quantbot Technologies LP acquired a new stake in shares of Nuvei in the first quarter worth $207,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Nuvei by 35.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,944 shares of the company’s stock worth $191,000 after buying an additional 2,095 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Nuvei in the fourth quarter worth $248,000. Finally, FORA Capital LLC acquired a new stake in shares of Nuvei in the first quarter worth $355,000. 42.45% of the stock is currently owned by institutional investors and hedge funds.

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.