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

Shares of Nuvei Co. (NASDAQ:NVEI) have received a consensus rating of “Moderate Buy” from the eighteen analysts that are presently covering the firm, MarketBeat Ratings reports. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $32.06.

Several analysts have recently commented on the stock. Canaccord Genuity Group lowered their target price on shares of Nuvei from $40.00 to $34.00 and set a “buy” rating for the company in a report on Tuesday, April 2nd. Royal Bank of Canada boosted their target price on Nuvei from $29.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. National Bankshares upped their target price on Nuvei from $23.00 to $30.00 and gave the company an “outperform” rating in a report on Friday, January 26th. Scotiabank reiterated a “sector perform” rating and set a $34.00 price target on shares of Nuvei in a report on Tuesday, April 2nd. Finally, Raymond James upped their price objective on Nuvei from $27.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th.

Nuvei Stock Down 0.7 %

Nuvei stock opened at $32.26 on Friday. 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 company has a market capitalization of $4.50 billion, a PE ratio of -537.58, a PEG ratio of 1.52 and a beta of 2.59. The firm’s fifty day moving average is $29.87 and its 200 day moving average is $25.06. Nuvei has a 12-month low of $13.32 and a 12-month high of $38.68.

Nuvei (NASDAQ:NVEI) last released its quarterly earnings data on Tuesday, March 5th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.24 by $0.06. Nuvei had a positive return on equity of 6.64% and a negative net margin of 0.66%. The firm had revenue of $321.52 million during the quarter, compared to the consensus estimate of $319.60 million. As a group, sell-side analysts predict that Nuvei will post 1.27 EPS for the current fiscal year.

Nuvei Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Tuesday, May 21st will be given a $0.10 dividend. 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 dividend payout ratio is currently -333.28%.

Hedge Funds Weigh In On Nuvei

Institutional investors and hedge funds have recently made changes to their positions in the business. Psagot Value Holdings Ltd. Israel purchased a new stake in shares of Nuvei in the third quarter worth approximately $90,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Nuvei by 35.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,944 shares of the company’s stock valued at $191,000 after acquiring an additional 2,095 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Nuvei in the first quarter worth $207,000. Virtu Financial LLC bought a new stake in shares of Nuvei during the fourth quarter worth $248,000. Finally, CastleKnight Management LP bought a new stake in shares of Nuvei during the fourth quarter worth $305,000. 42.45% of the stock is 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. The company's platform enables customers to pay and/or accept payments worldwide regardless of the location, device, or preferred payment method.