VimpelCom Ltd. (VIP) Downgraded by Zacks Investment Research to Sell
According to Zacks, “VimpelCom Ltd. is one of the world’s largest integrated telecommunications services operators. It offers a wide range of wireless, fixed, and broadband services in Russia, Ukraine, Kazakhstan, Uzbekistan, Tajikistan, Armenia, Georgia, Kyrgyzstan, Vietnam, Cambodia, Laos, Algeria, Bangladesh, Pakistan, Burundi, Zimbabwe, Central African Republic, Italy and Canada. VimpelCom provides services under the Beeline, Kyivstar, djuice, Wind, Infostrada Mobilink, Leo, Banglalink, Telecel, and Djezzy brands. VimpelCom Ltd. is headquartered in Amsterdam, the Netherlands. “
Several other brokerages have also commented on VIP. JPMorgan Chase & Co. reissued a sell rating and set a $3.50 price objective on shares of VimpelCom in a report on Friday, November 4th. Credit Suisse Group AG began coverage on VimpelCom in a report on Monday, November 7th. They set an outperform rating and a $4.80 price objective for the company. Royal Bank Of Canada reissued an outperform rating and set a $8.00 price objective on shares of VimpelCom in a report on Monday, November 7th. Citigroup Inc. raised VimpelCom from a neutral rating to a buy rating in a report on Thursday, November 3rd. Finally, Morgan Stanley began coverage on VimpelCom in a report on Thursday, September 8th. They set an overweight rating and a $5.70 price objective for the company. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. VimpelCom has an average rating of Buy and a consensus price target of $5.38.
VimpelCom (NASDAQ:VIP) opened at 3.34 on Friday.
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The firm also recently announced a dividend, which will be paid on Wednesday, December 7th. Investors of record on Friday, November 18th will be issued a dividend of $0.026 per share. The ex-dividend date of this dividend is Wednesday, November 16th.
Several institutional investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd increased its position in shares of VimpelCom by 37.1% in the second quarter. Dynamic Technology Lab Private Ltd now owns 26,385 shares of the company’s stock worth $102,000 after buying an additional 7,136 shares in the last quarter. U S Global Investors Inc. purchased a new position in VimpelCom during the third quarter worth about $162,000. Allianz Asset Management AG purchased a new position in VimpelCom during the second quarter worth about $182,000. BNP Paribas Arbitrage SA increased its position in VimpelCom by 48.3% in the second quarter. BNP Paribas Arbitrage SA now owns 47,202 shares of the company’s stock worth $183,000 after buying an additional 15,381 shares during the period. Finally, Carl Domino Inc increased its position in VimpelCom by 63.9% in the third quarter. Carl Domino Inc now owns 59,000 shares of the company’s stock worth $206,000 after buying an additional 23,000 shares during the period. Institutional investors own 9.95% of the company’s stock.
VimpelCom Company Profile
VimpelCom Ltd. is an international communications and technology company. The Company provides voice and data services through a range of traditional and broadband mobile and fixed-line technologies and operates in Russia, Algeria, Pakistan, Bangladesh, Ukraine, Kazakhstan, Uzbekistan, Kyrgyzstan, Armenia, Tajikistan, Georgia, Laos, Zimbabwe and Italy.
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