Nuvei Co. (NASDAQ:NVEI) to Issue Quarterly Dividend of $0.10

Nuvei Co. (NASDAQ:NVEIGet Free Report) announced a quarterly dividend on Tuesday, May 7th, Zacks reports. Investors of record on Tuesday, May 21st will be paid a dividend of 0.10 per share on Thursday, June 6th. This represents a $0.40 annualized dividend and a yield of 1.24%. The ex-dividend date is Friday, May 17th.

Nuvei has a dividend payout ratio of 15.7% meaning its dividend is sufficiently covered by earnings. Research 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 Up 0.2 %

NASDAQ NVEI opened at $32.30 on Thursday. The company has a market cap of $4.51 billion, a P/E ratio of -807.50, a P/E/G ratio of 1.52 and a beta of 2.59. The business has a fifty day moving average price of $30.45 and a 200 day moving average price of $25.63. Nuvei has a one year low of $13.32 and a one year high of $37.41. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.04 and a current ratio of 1.04.

Nuvei (NASDAQ:NVEIGet Free Report) last released its 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. Nuvei had a positive return on equity of 6.50% and a negative net margin of 0.39%. The company had revenue of $321.52 million during the quarter, compared to the consensus estimate of $319.60 million. Research analysts anticipate that Nuvei will post 1.27 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on NVEI. National Bankshares lifted their price target on Nuvei from $23.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. 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. JPMorgan Chase & Co. cut shares of Nuvei from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $32.00 to $34.00 in a report on Wednesday, May 8th. Wolfe Research restated a “peer perform” rating on shares of Nuvei in a report on Tuesday, April 2nd. Finally, UBS Group reissued a “neutral” rating and issued a $34.00 price target (up from $30.00) on shares of Nuvei in a research report on Wednesday, April 3rd. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.06.

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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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