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

Shares of Nuvei Co. (NASDAQ:NVEI) have received a consensus recommendation of “Moderate Buy” from the eighteen research firms that are currently covering the firm, MarketBeat.com reports. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $32.06.

NVEI has been the topic of several analyst reports. Raymond James lifted their price objective on Nuvei from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Canaccord Genuity Group reduced their price target on Nuvei from $40.00 to $34.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd. JPMorgan Chase & Co. downgraded Nuvei from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $32.00 to $34.00 in a report on Wednesday, May 8th. Scotiabank restated a “sector perform” rating and set a $34.00 price target on shares of Nuvei in a report on Tuesday, April 2nd. Finally, William Blair downgraded Nuvei from an “outperform” rating to a “market perform” rating in a report on Monday, April 1st.

Nuvei Trading Down 0.2 %

Shares of NVEI stock opened at $32.13 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.60. The business has a 50-day moving average price of $32.20 and a two-hundred day moving average price of $27.53. Nuvei has a 12-month low of $13.32 and a 12-month high of $37.41. The firm has a market cap of $4.50 billion, a P/E ratio of -803.25, a price-to-earnings-growth ratio of 1.57 and a beta of 2.55.

Nuvei (NASDAQ:NVEI) last issued its quarterly earnings results 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 firm had revenue of $335.11 million for the quarter, compared to the consensus estimate of $326.11 million. Nuvei had a positive return on equity of 6.50% and a negative net margin of 0.39%. Equities analysts anticipate that Nuvei will post 1.22 EPS for the current fiscal year.

Nuvei Dividend Announcement

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

Institutional Trading of Nuvei

Hedge funds have recently made changes to their positions in the stock. Citigroup Inc. lifted its position in Nuvei by 2.6% in the 3rd quarter. Citigroup Inc. now owns 22,776 shares of the company’s stock valued at $343,000 after acquiring an additional 576 shares in the last quarter. Wellington Management Group LLP lifted its position in Nuvei by 12.8% in the 3rd quarter. Wellington Management Group LLP now owns 7,616,542 shares of the company’s stock valued at $114,248,000 after acquiring an additional 865,984 shares in the last quarter. Tyche Wealth Partners LLC bought a new position in shares of Nuvei during the 4th quarter valued at $6,830,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Nuvei by 35.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,944 shares of the company’s stock valued at $191,000 after buying an additional 2,095 shares during the period. Finally, Barclays PLC lifted its holdings in shares of Nuvei by 2,516.2% during the 3rd quarter. Barclays PLC now owns 265,514 shares of the company’s stock valued at $3,983,000 after buying an additional 255,365 shares during the period. 42.45% of the stock is owned by institutional investors.

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.