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

Nuvei Co. (NASDAQ:NVEI) – Equities research analysts at Seaport Res Ptn lifted their Q2 2024 earnings per share estimates for shares of Nuvei in a report released on Monday, April 15th. Seaport Res Ptn analyst J. Cantwell now anticipates that the company will earn $0.26 per share for the quarter, up from their prior 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 research analysts also recently weighed in on the company. The Goldman Sachs Group raised their price target on Nuvei from $21.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, January 11th. Raymond James increased their price objective on Nuvei from $27.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. Scotiabank reissued a “sector perform” rating and set a $34.00 price objective on shares of Nuvei in a report on Tuesday, April 2nd. BMO Capital Markets lowered their price objective on Nuvei from $30.00 to $28.00 and set an “outperform” rating on the stock in a report on Thursday, March 7th. Finally, Royal Bank of Canada increased their price objective on Nuvei from $29.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Nuvei has a consensus rating of “Moderate Buy” and a consensus price target of $31.94.

Nuvei Trading Down 0.1 %

Shares of NASDAQ NVEI traded down $0.03 during mid-day trading on Wednesday, hitting $32.06. 2,037,738 shares of the company traded hands, compared to its average volume of 1,144,734. Nuvei has a 1 year low of $13.32 and a 1 year high of $43.15. The stock 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 company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.61. The business has a 50 day moving average of $27.44 and a two-hundred day moving average of $23.06.

Nuvei (NASDAQ:NVEI) last released its quarterly earnings results on Tuesday, March 5th. The company reported $0.30 earnings per share (EPS) for the quarter, topping 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 company had revenue of $321.52 million during the quarter, compared to analysts’ expectations of $319.60 million.

Hedge Funds Weigh In On Nuvei

A number of large investors have recently made changes to their positions in NVEI. Bank of New York Mellon Corp raised its position in shares of Nuvei by 14.8% in the first quarter. Bank of New York Mellon Corp now owns 68,197 shares of the company’s stock worth $5,141,000 after buying an additional 8,809 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of Nuvei in the first quarter worth $26,000. APG Asset Management N.V. purchased a new stake in Nuvei during the first quarter valued at about $212,000. Great West Life Assurance Co. Can purchased a new stake in Nuvei during the first quarter valued at about $914,000. Finally, Blair William & Co. IL raised its position in Nuvei by 8.8% during the first 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 in the last quarter. 42.45% of the stock is owned by institutional investors.

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 issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend was Monday, March 18th. Nuvei’s dividend payout ratio (DPR) is -666.56%.

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.