UBS Group restated their neutral rating on shares of Nuvei (NASDAQ:NVEI - Free Report) in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a $34.00 target price on the stock, up from their previous target price of $30.00.
NVEI has been the topic of several other reports. BMO Capital Markets decreased their price objective on shares of Nuvei from $30.00 to $28.00 and set an outperform rating on the stock in a research note on Thursday, March 7th. Wells Fargo & Company decreased their price objective on shares of Nuvei from $29.00 to $27.00 and set an equal weight rating on the stock in a research note on Thursday, March 7th. Canaccord Genuity Group decreased their price objective on shares of Nuvei from $40.00 to $34.00 and set a buy rating on the stock in a research note on Tuesday. The Goldman Sachs Group upped their price objective on shares of Nuvei from $21.00 to $30.00 and gave the stock a neutral rating in a research note on Thursday, January 11th. Finally, Keefe, Bruyette & Woods reaffirmed a market perform rating and set a $34.00 price objective (up from $31.00) on shares of Nuvei in a research note on Tuesday. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $33.29.
Read Our Latest Stock Analysis on NVEI
Nuvei Price Performance
NASDAQ:NVEI traded down $0.05 during mid-day trading on Wednesday, hitting $32.21. The company's stock had a trading volume of 5,456,551 shares, compared to its average volume of 1,016,882. Nuvei has a fifty-two week low of $13.32 and a fifty-two week high of $43.81. 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 company has a market capitalization of $4.49 billion, a price-to-earnings ratio of -537.58, a P/E/G ratio of 1.95 and a beta of 2.68. The stock has a fifty day moving average of $26.07 and a 200-day moving average of $21.99.
Nuvei (NASDAQ:NVEI - Get Free Report) last posted 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 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. As a group, equities analysts forecast that Nuvei will post 1.27 EPS for the current fiscal year.
Nuvei Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 4th. Stockholders of record on Tuesday, March 19th will be paid a dividend of $0.10 per share. The ex-dividend date is Monday, March 18th. This represents a $0.40 annualized dividend and a dividend yield of 1.24%. Nuvei's dividend payout ratio (DPR) is currently -666.56%.
Hedge Funds Weigh In On Nuvei
A number of hedge funds and other institutional investors have recently bought and sold shares of NVEI. Mitsubishi UFJ Trust & Banking Corp bought a new position in Nuvei in the first quarter valued at approximately $26,000. IFP Advisors Inc bought a new position in Nuvei in the second quarter valued at approximately $27,000. Tower Research Capital LLC TRC boosted its stake in Nuvei by 778.3% in the third quarter. Tower Research Capital LLC TRC now owns 2,635 shares of the company's stock valued at $39,000 after acquiring an additional 2,335 shares during the last quarter. US Bancorp DE boosted its stake in Nuvei by 981.8% in the fourth quarter. US Bancorp DE now owns 1,666 shares of the company's stock valued at $44,000 after acquiring an additional 1,512 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its stake in Nuvei by 77.3% in the second quarter. Osaic Holdings Inc. now owns 1,530 shares of the company's stock valued at $45,000 after acquiring an additional 667 shares during the last quarter. 42.45% of the stock is owned by institutional investors.
About Nuvei
(
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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.
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