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

Nuvei Co. (NASDAQ:NVEI) 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 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Monday, May 20th.

Nuvei has a dividend payout ratio of 15.6% 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 Performance

Shares of NVEI traded down $0.14 on Thursday, reaching $32.34. 533,296 shares of the company’s stock traded hands, compared to its average volume of 1,099,434. 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 stock has a market cap of $4.51 billion, a PE ratio of -538.74, a PEG ratio of 1.52 and a beta of 2.59. The stock’s 50 day simple moving average is $29.75 and its two-hundred day simple moving average is $25.01. Nuvei has a 52-week low of $13.32 and a 52-week high of $38.68.

Nuvei (NASDAQ:NVEI) last released its earnings results on Tuesday, March 5th. The company reported $0.30 EPS for the quarter, beating 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 company had revenue of $321.52 million for the quarter, compared to analyst estimates of $319.60 million. On average, analysts forecast that Nuvei will post 1.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

NVEI has been the topic of several research reports. Canaccord Genuity Group dropped their price target on Nuvei from $40.00 to $34.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. 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 report on Tuesday, April 2nd. UBS Group restated a “neutral” rating and set a $34.00 target price (up previously from $30.00) on shares of Nuvei in a research report on Wednesday, April 3rd. National Bankshares lifted their target price on Nuvei from $23.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Finally, Wells Fargo & Company reduced their price objective on Nuvei from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 7th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.