Nuvei Co. Forecasted to Earn Q2 2024 Earnings of $0.26 Per Share (NASDAQ:NVEI)

Nuvei Co. (NASDAQ:NVEI) – Seaport Res Ptn lifted their Q2 2024 earnings estimates for Nuvei in a research report issued 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.

A number of other equities analysts have also recently issued reports on the stock. Scotiabank restated a “sector perform” rating and issued a $34.00 price objective on shares of Nuvei in a research note on Tuesday, April 2nd. Wolfe Research reaffirmed a “peer perform” rating on shares of Nuvei in a report on Tuesday, April 2nd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $34.00 target price (up previously from $31.00) on shares of Nuvei in a report on Tuesday, April 2nd. UBS Group reaffirmed a “neutral” rating and issued a $34.00 target price (up previously from $30.00) on shares of Nuvei in a report on Wednesday, April 3rd. Finally, The Goldman Sachs Group upped their target price on shares of Nuvei from $21.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, January 11th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.94.

Nuvei Stock Down 0.1 %

Shares of NASDAQ NVEI traded down $0.03 during mid-day trading on Wednesday, reaching $32.06. The company had a trading volume of 2,037,738 shares, compared to its average volume of 1,144,734. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of -534.74, a PEG ratio of 1.51 and a beta of 2.68. The stock has a fifty day moving average of $27.44 and a two-hundred day moving average of $23.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.05 and a current ratio of 1.05. Nuvei has a 12-month low of $13.32 and a 12-month high of $43.15.

Nuvei (NASDAQ:NVEI) last announced its earnings results on Tuesday, March 5th. The company reported $0.30 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $321.52 million during the quarter, compared to analyst estimates of $319.60 million.

Hedge Funds Weigh In On Nuvei

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its stake in Nuvei by 14.8% during the 1st quarter. Bank of New York Mellon Corp now owns 68,197 shares of the company’s stock valued at $5,141,000 after purchasing an additional 8,809 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Nuvei during the 1st quarter valued at about $26,000. APG Asset Management N.V. purchased a new stake in Nuvei during the 1st quarter valued at about $212,000. Great West Life Assurance Co. Can purchased a new stake in Nuvei during the 1st quarter valued at about $914,000. Finally, Blair William & Co. IL grew its stake in 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 purchasing an additional 350 shares during the last quarter. Hedge funds and other institutional investors own 42.45% of the company’s stock.

Nuvei Dividend Announcement

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

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.