Seaport Res Ptn Weighs in on Nuvei Co.’s Q2 2024 Earnings (NASDAQ:NVEI)

Nuvei Co. (NASDAQ:NVEI) – Investment analysts at Seaport Res Ptn increased their Q2 2024 EPS estimates for shares of Nuvei in a research report issued 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 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. Canaccord Genuity Group decreased their target price on shares of Nuvei from $40.00 to $34.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd. UBS Group reissued a “neutral” rating and issued a $34.00 price target (up previously from $30.00) on shares of Nuvei in a report on Wednesday, April 3rd. Royal Bank of Canada increased their price target on shares of Nuvei from $29.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Citigroup increased their price target on shares of Nuvei from $27.00 to $34.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. Finally, BMO Capital Markets decreased their price target on shares of Nuvei from $30.00 to $28.00 and set an “outperform” rating on the stock in a report on Thursday, March 7th. Eight research 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.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.94.

Nuvei Stock Performance

Nuvei stock opened at $32.06 on Wednesday. The firm’s 50 day simple moving average is $27.70 and its 200 day simple moving average is $23.24. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $4.47 billion, a PE ratio of -534.24, a price-to-earnings-growth ratio of 1.51 and a beta of 2.68. Nuvei has a 1-year low of $13.32 and a 1-year high of $43.15.

Nuvei (NASDAQ:NVEI) last announced its quarterly earnings results on Tuesday, March 5th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.06. The company had revenue of $321.52 million for the quarter, compared to analysts’ expectations of $319.60 million. Nuvei had a negative net margin of 0.66% and a positive return on equity of 6.64%.

Nuvei Dividend Announcement

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

Institutional Investors Weigh In On Nuvei

Several institutional investors and hedge funds have recently modified their holdings of NVEI. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Nuvei during the 1st quarter valued at about $26,000. Blair William & Co. IL lifted its position 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 acquiring an additional 350 shares during the period. New York State Common Retirement Fund lifted its position in Nuvei by 6.0% during the 1st quarter. New York State Common Retirement Fund now owns 6,399 shares of the company’s stock valued at $279,000 after acquiring an additional 360 shares during the period. State Street Corp lifted its position in Nuvei by 1.1% during the 1st quarter. State Street Corp now owns 41,728 shares of the company’s stock valued at $1,816,000 after acquiring an additional 444 shares during the period. Finally, Citigroup Inc. lifted its position in Nuvei by 2.6% during the 3rd quarter. Citigroup Inc. now owns 22,776 shares of the company’s stock valued at $343,000 after acquiring an additional 576 shares during the period. 42.45% of the stock is owned by hedge funds and other institutional investors.

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.