VEON (NASDAQ:VEON) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.
According to Zacks, “VEON Ltd. is engaged in telecommunication and digital services. It provides customers with voice, fixed broadband, data and digital services. The company’s brand portfolio includes Beeline, Kyivstar, WIND, Jazz, Banglalink and Djezzy. It operates primarily in Russia, Italy, Algeria, Pakistan, Uzbekistan, Kazakhstan, Ukraine, Bangladesh, Kyrgyzstan, Tajikistan, Armenia, Georgia and Laos. VEON Ltd, formerly known as VimpelCom Ltd., is headquartered in Amsterdam, Netherland. “
Several other equities analysts have also weighed in on VEON. BidaskClub upgraded shares of VEON from a “sell” rating to a “hold” rating in a report on Tuesday, March 12th. ValuEngine lowered shares of VEON from a “buy” rating to a “hold” rating in a report on Wednesday, January 30th. Finally, VTB Capital lowered shares of VEON from a “buy” rating to a “hold” rating and set a $2.80 price objective on the stock. in a report on Wednesday, January 16th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. VEON presently has an average rating of “Hold” and a consensus price target of $3.27.
Shares of VEON stock opened at $2.49 on Friday. VEON has a 1 year low of $2.17 and a 1 year high of $3.14. The company has a market cap of $4.37 billion, a PE ratio of 41.50 and a beta of 1.82. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 2.36.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Morgan Stanley increased its stake in VEON by 14.0% in the third quarter. Morgan Stanley now owns 21,882,958 shares of the Wireless communications provider’s stock valued at $63,461,000 after purchasing an additional 2,695,007 shares in the last quarter. Gabelli Funds LLC increased its stake in VEON by 2.2% in the fourth quarter. Gabelli Funds LLC now owns 2,526,000 shares of the Wireless communications provider’s stock valued at $5,911,000 after purchasing an additional 54,000 shares in the last quarter. KBC Group NV increased its stake in VEON by 20.6% in the fourth quarter. KBC Group NV now owns 1,320,091 shares of the Wireless communications provider’s stock valued at $3,089,000 after purchasing an additional 225,241 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in VEON by 17.8% in the third quarter. Dimensional Fund Advisors LP now owns 3,957,293 shares of the Wireless communications provider’s stock valued at $11,483,000 after purchasing an additional 598,227 shares in the last quarter. Finally, Fosun International Ltd bought a new stake in VEON in the third quarter valued at approximately $1,916,000. Institutional investors and hedge funds own 14.81% of the company’s stock.
VEON Ltd., through its subsidiaries, provides mobile and fixed-line telecommunications services. It offers voice and data telecommunication services through a range of traditional and broadband mobile and fixed line technologies. The company provides mobile telecommunications services under contract and prepaid plans for corporate and consumer segments; value added services, including short messages, multimedia messages, caller number identification, call waiting, data transmission, mobile Internet, downloadable content, mobile finance, machine-to-machine, and other services; national and international roaming services; and mobile bundles.
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