VEON (NASDAQ:VEON) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of VEON (NASDAQ:VEON) from a strong sell rating to a hold rating in a research report report published on Tuesday morning,Zacks.com reports.

A number of other research firms have also issued reports on VEON. Weiss Ratings lowered shares of VEON from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 18th. Wall Street Zen lowered shares of VEON from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Northland Securities initiated coverage on shares of VEON in a report on Tuesday, June 9th. They set an “outperform” rating and a $70.00 price target for the company. Rothschild & Co Redburn set a $74.00 price target on VEON and gave the company a “buy” rating in a research report on Thursday, April 16th. Finally, Benchmark reiterated a “buy” rating on shares of VEON in a research note on Monday, June 15th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $72.00.

VEON Stock Performance

VEON opened at $54.52 on Tuesday. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.85 and a current ratio of 0.97. The company has a market cap of $4.03 billion, a PE ratio of 64.14 and a beta of 1.65. The stock has a 50-day moving average of $52.33 and a 200-day moving average of $52.40. VEON has a 52-week low of $42.60 and a 52-week high of $64.00.

VEON (NASDAQ:VEON) last issued its quarterly earnings data on Friday, July 31st. The Wireless communications provider reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.23. VEON had a return on equity of 14.93% and a net margin of 1.24%.The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period last year, the business earned $8.30 EPS. As a group, equities research analysts forecast that VEON will post 6.99 earnings per share for the current fiscal year.

Institutional Trading of VEON

Several hedge funds and other institutional investors have recently bought and sold shares of VEON. Lingotto Investment Management LLP lifted its stake in shares of VEON by 0.3% in the fourth quarter. Lingotto Investment Management LLP now owns 6,060,852 shares of the Wireless communications provider’s stock valued at $318,619,000 after buying an additional 16,758 shares during the period. Wellington Management Group LLP grew its holdings in shares of VEON by 66.5% during the 4th quarter. Wellington Management Group LLP now owns 977,400 shares of the Wireless communications provider’s stock worth $51,382,000 after purchasing an additional 390,294 shares in the last quarter. Solus Alternative Asset Management LP increased its position in shares of VEON by 3.6% during the fourth quarter. Solus Alternative Asset Management LP now owns 887,002 shares of the Wireless communications provider’s stock valued at $46,630,000 after purchasing an additional 30,900 shares during the period. Panview Capital Ltd increased its position in shares of VEON by 24.7% during the fourth quarter. Panview Capital Ltd now owns 514,927 shares of the Wireless communications provider’s stock valued at $27,070,000 after purchasing an additional 101,906 shares during the period. Finally, Two Sigma Investments LP raised its stake in shares of VEON by 31.5% in the third quarter. Two Sigma Investments LP now owns 276,426 shares of the Wireless communications provider’s stock valued at $15,046,000 after purchasing an additional 66,153 shares in the last quarter. 21.30% of the stock is currently owned by institutional investors and hedge funds.

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.