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

Nuvei Co. (NASDAQ:NVEI) declared a quarterly dividend on Tuesday, May 7th, Zacks reports. Investors 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 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. 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 Down 0.5 %

NASDAQ:NVEI traded down $0.15 during trading hours on Thursday, hitting $32.33. The company’s stock had a trading volume of 509,976 shares, compared to its average volume of 1,098,616. The stock has a market capitalization of $4.51 billion, a P/E ratio of -541.24, a price-to-earnings-growth ratio of 1.52 and a beta of 2.59. The stock has a fifty day moving average of $29.75 and a 200-day moving average of $25.01. 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 has a 52-week low of $13.32 and a 52-week high of $38.68.

Nuvei (NASDAQ:NVEI) last issued its quarterly earnings results on Tuesday, March 5th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.06. The firm had revenue of $321.52 million during 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%. On average, equities analysts forecast that Nuvei will post 1.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. William Blair downgraded shares of Nuvei from an “outperform” rating to a “market perform” rating in a report on Monday, April 1st. The Goldman Sachs Group lifted their price target on shares of Nuvei from $21.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, January 11th. JPMorgan Chase & Co. cut shares of Nuvei from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $32.00 to $34.00 in a research note on Wednesday. Wolfe Research reiterated a “peer perform” rating on shares of Nuvei in a research note on Tuesday, April 2nd. Finally, BMO Capital Markets lowered their price target on Nuvei from $30.00 to $28.00 and set an “outperform” rating for the company in a report on Thursday, March 7th. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.06.

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.