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

Nuvei Co. (NASDAQ:NVEI) announced a quarterly dividend on Tuesday, August 6th, Zacks reports. Stockholders of record on Tuesday, August 20th will be given a dividend of 0.10 per share on Thursday, September 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Tuesday, August 20th.

Nuvei has a payout ratio of 15.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Nuvei to earn $1.67 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 24.0%.

Nuvei Price Performance

Shares of Nuvei stock traded up $0.03 on Thursday, reaching $33.03. The company’s stock had a trading volume of 123,351 shares, compared to its average volume of 1,043,396. The company has a market capitalization of $4.62 billion, a P/E ratio of -825.25, a PEG ratio of 1.60 and a beta of 2.53. Nuvei has a 52-week low of $13.32 and a 52-week high of $33.78. The stock has a 50-day moving average price of $32.48 and a 200-day moving average price of $30.04. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.60.

Nuvei (NASDAQ:NVEI) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.06). The business had revenue of $345.50 million during the quarter, compared to analysts’ expectations of $329.88 million. Nuvei had a negative net margin of 0.39% and a positive return on equity of 6.50%. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.19 earnings per share. Analysts expect that Nuvei will post 1.23 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. cut Nuvei from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $32.00 to $34.00 in a research report on Wednesday, May 8th. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.