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

Nuvei Co. (NASDAQ:NVEI) – Research analysts at Seaport Res Ptn raised their Q2 2024 earnings per share estimates for Nuvei in a report released 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 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.

Several other research analysts have also recently issued reports on NVEI. Royal Bank of Canada upped their price objective on Nuvei from $29.00 to $34.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. William Blair cut Nuvei from an “outperform” rating to a “market perform” rating in a research report on Monday, April 1st. Canaccord Genuity Group lowered their price objective on Nuvei from $40.00 to $34.00 and set a “buy” rating for the company in a research report on Tuesday, April 2nd. UBS Group reaffirmed a “neutral” rating and set a $34.00 price objective (up from $30.00) on shares of Nuvei in a research report on Wednesday, April 3rd. Finally, Scotiabank reissued a “sector perform” rating and issued a $34.00 target price on shares of Nuvei in a report on Tuesday, April 2nd. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Nuvei currently has an average rating of “Moderate Buy” and an average price target of $31.94.

Nuvei Stock Performance

NVEI opened at $32.06 on Wednesday. Nuvei has a 12 month low of $13.32 and a 12 month high of $42.52. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of -534.33, a PEG ratio of 1.51 and a beta of 2.68. 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 business has a fifty day moving average price of $27.70 and a 200 day moving average price of $23.24.

Nuvei (NASDAQ:NVEI) last posted its quarterly earnings data on Tuesday, March 5th. The company reported $0.30 earnings per share (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 for the quarter, compared to the consensus estimate of $319.60 million.

Institutional Investors Weigh In On Nuvei

Hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP raised its position in Nuvei by 12.8% in the third quarter. Wellington Management Group LLP now owns 7,616,542 shares of the company’s stock valued at $114,248,000 after purchasing an additional 865,984 shares during the period. Capital International Investors raised its position in Nuvei by 102.5% in the first quarter. Capital International Investors now owns 7,269,586 shares of the company’s stock valued at $546,607,000 after purchasing an additional 3,679,400 shares during the period. Vanguard Group Inc. raised its position in Nuvei by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 2,282,672 shares of the company’s stock valued at $59,943,000 after purchasing an additional 54,472 shares during the period. Sylebra Capital LLC grew its stake in shares of Nuvei by 281.8% during the fourth quarter. Sylebra Capital LLC now owns 2,060,386 shares of the company’s stock valued at $54,106,000 after acquiring an additional 1,520,721 shares in the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. grew its stake in shares of Nuvei by 15.4% during the first quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,347,917 shares of the company’s stock valued at $42,783,000 after acquiring an additional 179,840 shares in the last quarter. Institutional investors and hedge funds own 42.45% of the company’s stock.

Nuvei Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date was Monday, March 18th. Nuvei’s dividend payout ratio (DPR) is presently -666.67%.

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.