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

Nuvei Co. (NASDAQ:NVEI - Free Report) - Seaport Res Ptn raised 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 forecasts that the company will post earnings of $0.26 per share for the quarter, up from their previous 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.

Several other analysts also recently commented on the stock. National Bankshares upped their price target on shares of Nuvei from $23.00 to $30.00 and gave the company an "outperform" rating in a research report on Friday, January 26th. Royal Bank of Canada upped their price target on shares of Nuvei from $29.00 to $34.00 and gave the company an "outperform" rating in a research report on Thursday, March 7th. William Blair downgraded shares of Nuvei from an "outperform" rating to a "market perform" rating in a research report on Monday, April 1st. UBS Group restated a "neutral" rating and set a $34.00 price objective (up previously from $30.00) on shares of Nuvei in a research report on Wednesday, April 3rd. Finally, Wells Fargo & Company cut their price objective on shares of Nuvei from $29.00 to $27.00 and set an "equal weight" rating for the company in a research 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. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $31.94.

Nuvei Stock Performance

NVEI stock traded down $0.03 on Wednesday, hitting $32.06. The company's stock had a trading volume of 2,037,738 shares, compared to its average volume of 1,144,812. The firm has a 50 day moving average of $27.70 and a two-hundred day moving average of $23.24. Nuvei has a 1 year low of $13.32 and a 1 year high of $43.15. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of -534.24, a price-to-earnings-growth ratio of 1.51 and a beta of 2.68. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.61.

Nuvei (NASDAQ:NVEI - Get Free Report) last released its quarterly earnings results 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 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 the consensus estimate of $319.60 million.

Nuvei Dividend Announcement

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

Hedge Funds Weigh In On Nuvei

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP grew its stake in Nuvei by 12.8% in the 3rd quarter. Wellington Management Group LLP now owns 7,616,542 shares of the company's stock valued at $114,248,000 after acquiring an additional 865,984 shares during the last quarter. Capital International Investors grew its stake in Nuvei by 102.5% in the 1st quarter. Capital International Investors now owns 7,269,586 shares of the company's stock valued at $546,607,000 after acquiring an additional 3,679,400 shares during the last quarter. Vanguard Group Inc. grew its stake in Nuvei by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 2,282,672 shares of the company's stock valued at $59,943,000 after acquiring an additional 54,472 shares during the last quarter. Sylebra Capital LLC grew its stake in Nuvei by 281.8% in the 4th 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 during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its stake in Nuvei by 21.9% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,194,800 shares of the company's stock valued at $17,922,000 after acquiring an additional 214,800 shares during the last quarter. 42.45% of the stock is owned by institutional investors and hedge funds.

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.