Seaport Res Ptn Equities Analysts Raise Earnings Estimates for Nuvei Co. (NASDAQ:NVEI)

Nuvei Co. (NASDAQ:NVEI) – Equities research analysts at Seaport Res Ptn upped their Q2 2024 earnings estimates for Nuvei in a report issued on Monday, April 15th. Seaport Res Ptn analyst J. Cantwell now expects that the company will post earnings per share of $0.26 for the quarter, up from their previous estimate 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.

A number of other analysts have also weighed in on NVEI. Citigroup raised their price target on shares of Nuvei from $27.00 to $34.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. BMO Capital Markets cut their price objective on shares of Nuvei from $30.00 to $28.00 and set an “outperform” rating on the stock in a research report on Thursday, March 7th. Scotiabank reaffirmed a “sector perform” rating and issued a $34.00 price objective on shares of Nuvei in a research report on Tuesday, April 2nd. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $34.00 price target (up from $31.00) on shares of Nuvei in a research note on Tuesday, April 2nd. Finally, Canaccord Genuity Group lowered their price target on shares of Nuvei from $40.00 to $34.00 and set a “buy” rating on the stock in a research note on Tuesday, April 2nd. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.94.

Nuvei Stock Performance

Shares of Nuvei stock opened at $32.06 on Wednesday. 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 firm has a market cap of $4.47 billion, a P/E ratio of -534.33, a P/E/G ratio of 1.51 and a beta of 2.68. The firm has a 50 day simple moving average of $27.70 and a 200 day simple moving average of $23.24. Nuvei has a fifty-two week low of $13.32 and a fifty-two week high of $42.52.

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

Nuvei Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Monday, March 18th. This represents a $0.40 annualized dividend and a dividend yield of 1.25%. Nuvei’s dividend payout ratio is presently -666.67%.

Institutional Trading of Nuvei

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mitsubishi UFJ Trust & Banking Corp acquired a new position in Nuvei in the 1st quarter valued at approximately $26,000. IFP Advisors Inc bought a new stake in Nuvei in the 2nd quarter valued at about $27,000. Advisors Asset Management Inc. bought a new stake in Nuvei during the 1st quarter worth approximately $88,000. Osaic Holdings Inc. increased its holdings in Nuvei by 77.3% during the 2nd quarter. Osaic Holdings Inc. now owns 1,530 shares of the company’s stock worth $45,000 after purchasing an additional 667 shares in the last quarter. Finally, US Bancorp DE increased its holdings in Nuvei by 981.8% during the 4th quarter. US Bancorp DE now owns 1,666 shares of the company’s stock worth $44,000 after purchasing an additional 1,512 shares in the last quarter. 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.