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

Shares of Nuvei Co. (NASDAQ:NVEI) have received a consensus rating of “Moderate Buy” from the twelve brokerages that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $40.92.

A number of research analysts have recently commented on the company. National Bankshares dropped their price target on Nuvei from $75.00 to $50.00 and set an “outperform” rating for the company in a research note on Monday, July 24th. Royal Bank of Canada reduced their price target on Nuvei from $42.00 to $29.00 and set an “outperform” rating on the stock in a report on Thursday, August 10th. Credit Suisse Group lowered their price objective on Nuvei from $42.00 to $26.00 and set an “outperform” rating for the company in a research note on Thursday, August 10th. TheStreet downgraded shares of Nuvei from a “c-” rating to a “d” rating in a research report on Monday, May 22nd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Nuvei from $47.00 to $27.00 and set an “overweight” rating for the company in a research report on Thursday, August 10th.

Nuvei Stock Up 2.8 %

Shares of NASDAQ NVEI opened at $18.57 on Friday. The stock has a market capitalization of $2.58 billion, a P/E ratio of 132.64, a PEG ratio of 1.31 and a beta of 2.03. The stock’s fifty day moving average is $26.36 and its 200 day moving average is $32.72. Nuvei has a 52 week low of $15.87 and a 52 week high of $43.81. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.00 and a current ratio of 1.01.

Nuvei (NASDAQ:NVEI) last announced its quarterly earnings data on Wednesday, August 9th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.06). Nuvei had a net margin of 2.03% and a return on equity of 6.83%. The firm had revenue of $307.03 million during the quarter, compared to the consensus estimate of $306.48 million. Sell-side analysts forecast that Nuvei will post 0.83 earnings per share for the current fiscal year.

Nuvei Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Monday, August 21st will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Friday, August 18th. Nuvei’s dividend payout ratio is 214.29%.

Institutional Trading of Nuvei

A number of institutional investors have recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Nuvei during the 1st quarter worth approximately $26,000. Blair William & Co. IL grew its stake in Nuvei by 8.8% in the first quarter. Blair William & Co. IL now owns 4,350 shares of the company’s stock worth $328,000 after purchasing an additional 350 shares during the period. New York State Common Retirement Fund raised its holdings in Nuvei by 6.0% in the first quarter. New York State Common Retirement Fund now owns 6,399 shares of the company’s stock worth $279,000 after purchasing an additional 360 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in Nuvei by 6.8% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,370 shares of the company’s stock valued at $277,000 after buying an additional 403 shares during the period. Finally, State Street Corp boosted its holdings in shares of Nuvei by 1.1% during the 1st quarter. State Street Corp now owns 41,728 shares of the company’s stock valued at $1,816,000 after buying an additional 444 shares in the last quarter. 26.19% of the stock is currently owned by hedge funds and other 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. Its platform enables customers to pay and/or accept payments worldwide regardless of their location, device, or preferred payment method.