VEON’s (VEON) “Buy” Rating Reiterated at Benchmark

Benchmark reiterated their buy rating on shares of VEON (NASDAQ:VEON) in a research report sent to investors on Monday morning,Benzinga reports. They currently have a $60.00 target price on the Wireless communications provider’s stock.

VEON Stock Performance

VEON opened at $40.05 on Monday. The stock has a market cap of $2.96 billion, a P/E ratio of 6.32 and a beta of 1.51. The firm has a fifty day moving average price of $47.36 and a 200 day moving average price of $44.04. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.80 and a quick ratio of 0.78. VEON has a 1 year low of $25.38 and a 1 year high of $58.30.

VEON (NASDAQ:VEON) last issued its quarterly earnings results on Thursday, May 15th. The Wireless communications provider reported $1.36 EPS for the quarter, topping the consensus estimate of $0.83 by $0.53. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $996.00 million. VEON had a net margin of 11.18% and a return on equity of 36.24%.

Institutional Investors Weigh In On VEON

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lingotto Investment Management LLP increased its holdings in VEON by 2.9% in the 4th quarter. Lingotto Investment Management LLP now owns 5,740,438 shares of the Wireless communications provider’s stock worth $230,192,000 after acquiring an additional 159,714 shares in the last quarter. Wellington Management Group LLP increased its holdings in VEON by 22.3% in the 1st quarter. Wellington Management Group LLP now owns 647,096 shares of the Wireless communications provider’s stock worth $28,220,000 after acquiring an additional 117,945 shares in the last quarter. Diameter Capital Partners LP purchased a new stake in VEON in the 4th quarter worth $25,161,000. GAMMA Investing LLC increased its holdings in VEON by 5,190.9% in the 1st quarter. GAMMA Investing LLC now owns 157,563 shares of the Wireless communications provider’s stock worth $6,871,000 after acquiring an additional 154,585 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in VEON by 2.2% in the 4th quarter. Russell Investments Group Ltd. now owns 117,808 shares of the Wireless communications provider’s stock worth $4,724,000 after acquiring an additional 2,512 shares in the last quarter. Hedge funds and other institutional investors own 21.30% of the company’s stock.

About VEON

VEON Ltd., a digital operator, provides connectivity and internet services in Pakistan, Ukraine, Kazakhstan, Bangladesh, Uzbekistan, and Kyrgyzstan. It offers mobile telecommunications services, including value added and call completion, national and international roaming, wireless Internet access, mobile financial, and mobile bundle services; data connectivity, cross border transit, voice, Internet, and data services; fixed-line telecommunications using intercity fiber optic networks; and Internet-TV using Fiber to the building technology.