Seaport Res Ptn Weighs in on Nuvei Co.’s Q2 2024 Earnings (NASDAQ:NVEI)

Nuvei Co. (NASDAQ:NVEI) – Equities research analysts at Seaport Res Ptn upped their Q2 2024 earnings per share estimates for shares of Nuvei in a research report issued to clients and investors on Monday, April 15th. Seaport Res Ptn analyst J. Cantwell now anticipates that the company will post earnings of $0.26 per share for the quarter, up from their previous forecast of $0.22. The consensus estimate for Nuvei’s current full-year earnings is $1.27 per share. Seaport Res Ptn also issued estimates for Nuvei’s Q3 2024 earnings at $0.33 EPS, Q1 2025 earnings at $0.31 EPS, Q3 2025 earnings at $0.42 EPS and FY2025 earnings at $1.70 EPS.

Other equities analysts have also recently issued research reports about the company. BMO Capital Markets decreased their price objective on Nuvei from $30.00 to $28.00 and set an “outperform” rating for the company in a research note on Thursday, March 7th. The Goldman Sachs Group lifted their price objective on Nuvei from $21.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, January 11th. UBS Group reiterated a “neutral” rating and issued a $34.00 price objective (up previously from $30.00) on shares of Nuvei in a research note on Wednesday, April 3rd. National Bankshares boosted their target price on Nuvei from $23.00 to $30.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $34.00 target price (up previously from $31.00) on shares of Nuvei in a research note on Tuesday, April 2nd. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.94.

Nuvei Stock Performance

Shares of NVEI opened at $32.06 on Wednesday. The stock has a 50-day simple moving average of $27.70 and a 200-day simple moving average of $23.24. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $4.47 billion, a PE ratio of -534.24, a PEG ratio of 1.51 and a beta of 2.68. Nuvei has a 1 year low of $13.32 and a 1 year high of $43.15.

Nuvei (NASDAQ:NVEI) last released its earnings results on Tuesday, March 5th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.06. The company had revenue of $321.52 million during the quarter, compared to the consensus estimate of $319.60 million. Nuvei had a positive return on equity of 6.64% and a negative net margin of 0.66%.

Nuvei Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Tuesday, March 19th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.25%. The ex-dividend date was Monday, March 18th. Nuvei’s dividend payout ratio (DPR) is presently -666.56%.

Institutional Investors Weigh In On Nuvei

Several large investors have recently modified their holdings of NVEI. Wellington Management Group LLP raised its position in Nuvei by 12.8% in the third quarter. Wellington Management Group LLP now owns 7,616,542 shares of the company’s stock worth $114,248,000 after acquiring an additional 865,984 shares in the last quarter. Capital International Investors raised its position in Nuvei by 102.5% in the first quarter. Capital International Investors now owns 7,269,586 shares of the company’s stock worth $546,607,000 after acquiring an additional 3,679,400 shares in the last quarter. Vanguard Group Inc. raised its position in Nuvei by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 2,282,672 shares of the company’s stock worth $59,943,000 after acquiring an additional 54,472 shares in the last quarter. Sylebra Capital LLC raised its position in Nuvei by 281.8% in the fourth quarter. Sylebra Capital LLC now owns 2,060,386 shares of the company’s stock worth $54,106,000 after acquiring an additional 1,520,721 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its position in Nuvei by 21.9% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,194,800 shares of the company’s stock worth $17,922,000 after acquiring an additional 214,800 shares in the last quarter. Hedge funds and other institutional investors 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.