VEON (NASDAQ:VEON) Downgraded to “Hold” Rating by Zacks Research

VEON (NASDAQ:VEON) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

VEON has been the topic of a number of other research reports. Benchmark reissued a “buy” rating on shares of VEON in a research report on Friday, March 13th. Weiss Ratings lowered VEON from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday. Rothschild & Co Redburn set a $74.00 price target on VEON and gave the stock a “buy” rating in a research note on Thursday, April 16th. Finally, Wall Street Zen upgraded VEON from a “buy” rating to a “strong-buy” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, VEON has a consensus rating of “Moderate Buy” and an average target price of $67.00.

VEON Trading Up 1.6%

VEON stock opened at $55.44 on Monday. The business has a 50-day simple moving average of $50.65 and a two-hundred day simple moving average of $51.70. The company has a market cap of $4.10 billion, a P/E ratio of 7.43 and a beta of 1.61. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 2.15. VEON has a 52-week low of $34.55 and a 52-week high of $64.00.

VEON (NASDAQ:VEON) last posted its quarterly earnings results on Thursday, April 30th. The Wireless communications provider reported $1.50 EPS for the quarter. VEON had a return on equity of 44.43% and a net margin of 11.65%. Analysts predict that VEON will post 8.56 EPS for the current year.

Institutional Trading of VEON

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Shah Capital Management raised its stake in shares of VEON by 1.5% during the 4th quarter. Shah Capital Management now owns 4,895,252 shares of the Wireless communications provider’s stock worth $257,343,000 after buying an additional 70,831 shares in the last quarter. Diversify Wealth Management LLC acquired a new stake in shares of VEON during the third quarter worth $1,078,000. Panview Capital Ltd acquired a new position in VEON in the third quarter valued at $22,481,000. Pictet Asset Management Holding SA boosted its holdings in VEON by 77.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 225,643 shares of the Wireless communications provider’s stock valued at $11,862,000 after acquiring an additional 98,618 shares during the last quarter. Finally, Envestnet Asset Management Inc. acquired a new position in shares of VEON during the third quarter worth about $1,645,000. 21.30% of the stock is owned by hedge funds and other institutional investors.

About VEON

VEON Ltd (NASDAQ: VEON) is a global telecommunications and digital services provider headquartered in Amsterdam, the Netherlands. Originally founded as VimpelCom in Russia in 1992, the company rebranded to VEON in 2017 to reflect its transformation into a technology-driven operator. VEON operates as a holding company with direct investments in mobile and internet service providers across multiple emerging markets, delivering voice, data and digital services to individual and enterprise customers.

Through its operating subsidiaries, VEON offers a broad portfolio that includes 2G/3G/4G mobile access, fixed broadband, digital lifestyle applications and mobile financial services.