Nuvei Co. (NASDAQ:NVEI) Receives $31.94 Average PT from Brokerages

Shares of Nuvei Co. (NASDAQ:NVEI) have been assigned an average rating of “Moderate Buy” from the eighteen brokerages that are covering the stock, Marketbeat.com reports. Eight research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $31.94.

A number of equities research analysts have recently issued reports on NVEI shares. Scotiabank reaffirmed a “sector perform” rating and issued a $34.00 target price on shares of Nuvei in a report on Tuesday, April 2nd. Raymond James increased their price target on shares of Nuvei from $27.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. Wells Fargo & Company lowered their price target on shares of Nuvei from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Thursday, March 7th. The Goldman Sachs Group increased their price target on shares of Nuvei from $21.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, January 11th. Finally, UBS Group reissued 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

Shares of NVEI stock opened at $32.06 on Monday. Nuvei has a 12-month low of $13.32 and a 12-month high of $43.15. The firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of -534.24, a price-to-earnings-growth ratio of 1.51 and a beta of 2.68. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.61. The firm has a fifty day moving average of $27.70 and a 200-day moving average of $23.24.

Nuvei (NASDAQ:NVEI) last posted its quarterly earnings data on Tuesday, March 5th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $321.52 million during the quarter, compared to the consensus estimate of $319.60 million. On average, equities research analysts forecast that Nuvei will post 1.27 earnings per share for the current year.

Nuvei Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Tuesday, March 19th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Monday, March 18th. Nuvei’s payout ratio is -666.56%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Nuvei in the 1st quarter worth approximately $26,000. Blair William & Co. IL raised its position in shares of Nuvei by 8.8% during the 1st quarter. Blair William & Co. IL now owns 4,350 shares of the company’s stock valued at $328,000 after buying an additional 350 shares in the last quarter. New York State Common Retirement Fund raised its position in shares of Nuvei by 6.0% during the 1st quarter. New York State Common Retirement Fund now owns 6,399 shares of the company’s stock valued at $279,000 after buying an additional 360 shares in the last quarter. State Street Corp raised its position 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. Finally, Citigroup Inc. raised its position in shares of Nuvei by 2.6% during the 3rd quarter. Citigroup Inc. now owns 22,776 shares of the company’s stock valued at $343,000 after buying an additional 576 shares in the last quarter. 42.45% of the stock is owned by institutional investors.

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.