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

Shares of Nuvei Co. (NASDAQ:NVEI) have earned a consensus recommendation of “Moderate Buy” from the eighteen analysts that are currently covering the firm, MarketBeat reports. Nine analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $32.06.

A number of equities analysts recently weighed in on the stock. UBS Group restated a “neutral” rating and set a $34.00 target price (up previously from $30.00) on shares of Nuvei in a research report on Wednesday, April 3rd. The Goldman Sachs Group raised their price objective on Nuvei from $21.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, January 11th. Citigroup boosted their target price on Nuvei from $27.00 to $34.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. Royal Bank of Canada raised their price target on Nuvei from $29.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. Finally, Canaccord Genuity Group decreased their price objective on Nuvei from $40.00 to $34.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd.

Hedge Funds Weigh In On Nuvei

Hedge funds and other institutional investors have recently bought and sold shares of the company. Swiss National Bank lifted its position in shares of Nuvei by 1.0% during the 1st quarter. Swiss National Bank now owns 125,400 shares of the company’s stock worth $3,963,000 after purchasing an additional 1,200 shares during the last quarter. Quantbot Technologies LP purchased a new position in Nuvei in the first quarter valued at $207,000. FORA Capital LLC acquired a new stake in Nuvei in the first quarter valued at $355,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Nuvei by 15.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 87,883 shares of the company’s stock worth $2,779,000 after acquiring an additional 11,767 shares in the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. increased its holdings in shares of Nuvei by 15.4% in the 1st quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,347,917 shares of the company’s stock valued at $42,783,000 after acquiring an additional 179,840 shares during the last quarter. 42.45% of the stock is currently owned by hedge funds and other institutional investors.

Nuvei Trading Down 0.7 %

NASDAQ:NVEI opened at $32.26 on Friday. The firm has a market capitalization of $4.50 billion, a price-to-earnings ratio of -537.58, a price-to-earnings-growth ratio of 1.52 and a beta of 2.59. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.05 and a quick ratio of 1.05. The business has a fifty day moving average price of $29.87 and a 200-day moving average price of $25.06. Nuvei has a one year low of $13.32 and a one year high of $38.68.

Nuvei (NASDAQ:NVEI) last issued its quarterly 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. Nuvei had a negative net margin of 0.66% and a positive return on equity of 6.64%. The business had revenue of $321.52 million for the quarter, compared to the consensus estimate of $319.60 million. Sell-side analysts forecast that Nuvei will post 1.27 EPS for the current year.

Nuvei Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Tuesday, May 21st will be given a dividend of $0.10 per share. The ex-dividend date is Monday, May 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.24%. Nuvei’s payout ratio is currently -333.28%.

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.