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

Nuvei Co. (NASDAQ:NVEI) has been given a consensus recommendation of “Moderate Buy” by the eighteen ratings firms that are presently covering the stock, Marketbeat reports. Nine investment 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.

Several brokerages have issued reports on NVEI. Royal Bank of Canada increased their target price on Nuvei from $29.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, March 7th. Wolfe Research reiterated a “peer perform” rating on shares of Nuvei in a report on Tuesday, April 2nd. William Blair cut shares of Nuvei from an “outperform” rating to a “market perform” rating in a report on Monday, April 1st. Canaccord Genuity Group decreased their target price on shares of Nuvei from $40.00 to $34.00 and set a “buy” rating for the company in a research report on Tuesday, April 2nd. Finally, UBS Group reaffirmed a “neutral” rating and issued a $34.00 price target (up from $30.00) on shares of Nuvei in a report on Wednesday, April 3rd.

Nuvei Price Performance

NVEI opened at $32.44 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.60. The business’s fifty day simple moving average is $32.21 and its 200-day simple moving average is $28.67. The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of -811.00, a PEG ratio of 1.58 and a beta of 2.53. Nuvei has a 12-month low of $13.32 and a 12-month high of $37.41.

Nuvei (NASDAQ:NVEI) last posted its earnings results on Tuesday, May 7th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $335.11 million for the quarter, compared to analysts’ expectations of $326.11 million. On average, equities research analysts anticipate that Nuvei will post 1.22 earnings per share for the current fiscal year.

Nuvei Dividend Announcement

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

Institutional Investors Weigh In On Nuvei

Institutional investors and hedge funds have recently modified their holdings of the company. Dixon Mitchell Investment Counsel Inc. acquired a new position in Nuvei in the 4th quarter worth approximately $30,845,000. Wellington Management Group LLP raised its holdings in shares of Nuvei by 12.8% during the third 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 last quarter. Sylebra Capital LLC acquired a new position in Nuvei during the third quarter valued at $8,095,000. NewGen Asset Management Ltd acquired a new position in Nuvei during the fourth quarter valued at $11,160,000. Finally, Azora Capital LP purchased a new stake in Nuvei in the fourth quarter valued at $10,239,000. Institutional investors and hedge funds own 42.45% of the company’s stock.

Nuvei Company Profile

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.