Zacks Investment Research downgraded shares of VimpelCom Ltd. (NASDAQ:VEON) from a hold rating to a sell rating in a report published on Thursday.

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. “

VEON has been the topic of a number of other research reports. BidaskClub cut VimpelCom from a sell rating to a strong sell rating in a research note on Thursday, October 26th. ValuEngine cut VimpelCom from a hold rating to a sell rating in a research note on Friday, August 4th. J P Morgan Chase & Co raised VimpelCom from an underweight rating to a neutral rating and lifted their target price for the company from $4.00 to $4.50 in a research note on Wednesday, July 26th. Finally, Royal Bank Of Canada set a $7.00 target price on VimpelCom and gave the company a buy rating in a research note on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $5.35.

Shares of VimpelCom (NASDAQ:VEON) traded down $0.01 on Thursday, reaching $3.81. The company had a trading volume of 2,931,274 shares, compared to its average volume of 4,178,389. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.86 and a quick ratio of 0.84.

VimpelCom (NASDAQ:VEON) last issued its quarterly earnings results on Thursday, August 3rd. The Wireless communications provider reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.09). The company had revenue of $2.42 billion during the quarter. VimpelCom had a negative return on equity of 8.29% and a net margin of 18.26%. analysts expect that VimpelCom will post 0.26 earnings per share for the current fiscal year.

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Large investors have recently added to or reduced their stakes in the business. KCG Holdings Inc. purchased a new position in VimpelCom during the 1st quarter valued at about $248,000. UBS Group AG purchased a new position in VimpelCom during the 1st quarter valued at about $263,000. Credit Suisse AG acquired a new stake in shares of VimpelCom during the 1st quarter valued at about $421,000. Schwab Charles Investment Management Inc. acquired a new stake in shares of VimpelCom during the 1st quarter valued at about $899,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of VimpelCom during the 1st quarter valued at about $1,503,000. 12.02% of the stock is currently owned by institutional investors.

VimpelCom Company Profile

Analyst Recommendations for VimpelCom (NASDAQ:VEON)

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