Nuvei Co. (NASDAQ:NVEI) Announces $0.10 Quarterly Dividend

Nuvei Co. (NASDAQ:NVEI) declared a quarterly dividend on Tuesday, May 7th, Zacks reports. Stockholders of record on Tuesday, May 21st will be given a dividend of 0.10 per share on Thursday, June 6th. This represents a $0.40 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Monday, May 20th.

Nuvei has a payout ratio of 15.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Nuvei to earn $1.73 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 23.1%.

Nuvei Stock Performance

NVEI stock traded down $0.14 during midday trading on Thursday, hitting $32.34. The company’s stock had a trading volume of 533,296 shares, compared to its average volume of 1,099,434. Nuvei has a 1 year low of $13.32 and a 1 year high of $38.68. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of -538.74, a PEG ratio of 1.52 and a beta of 2.59. The stock’s 50-day moving average price is $29.75 and its 200 day moving average price is $25.01. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.61.

Nuvei (NASDAQ:NVEI) last posted its quarterly earnings results on Tuesday, March 5th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.06. The company had revenue of $321.52 million during the quarter, compared to analyst estimates of $319.60 million. Nuvei had a negative net margin of 0.66% and a positive return on equity of 6.64%. On average, equities analysts forecast that Nuvei will post 1.27 EPS for the current year.

Analyst Upgrades and Downgrades

NVEI has been the subject of several research reports. The Goldman Sachs Group increased their price objective on Nuvei from $21.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, January 11th. Canaccord Genuity Group lowered their price target on shares of Nuvei from $40.00 to $34.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. Citigroup lifted their price objective on shares of Nuvei from $27.00 to $34.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $34.00 price target (up from $31.00) on shares of Nuvei in a report on Tuesday, April 2nd. Finally, UBS Group reiterated a “neutral” rating and set a $34.00 price objective (up from $30.00) on shares of Nuvei in a research note on Wednesday, April 3rd. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Nuvei currently has an average rating of “Moderate Buy” and a consensus price target of $32.06.

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.