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

VEON (NASDAQ:VEON) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other equities analysts also recently weighed in on the stock. Wall Street Zen raised shares of VEON from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings reissued a “hold (c)” rating on shares of VEON in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $60.00.

VEON Price Performance

Shares of VEON stock opened at $52.04 on Thursday. The stock’s fifty day moving average is $50.92 and its 200-day moving average is $51.83. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.94 and a current ratio of 0.95. The stock has a market capitalization of $3.59 billion, a PE ratio of 5.91 and a beta of 1.59. VEON has a 52 week low of $34.55 and a 52 week high of $64.00.

VEON (NASDAQ:VEON) last released its quarterly earnings results on Monday, November 10th. The Wireless communications provider reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.07). The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. VEON had a net margin of 15.26% and a return on equity of 58.72%.

VEON announced that its Board of Directors has authorized a share repurchase plan on Monday, November 17th that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the Wireless communications provider to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Osaic Holdings Inc. raised its holdings in VEON by 36.8% in the second quarter. Osaic Holdings Inc. now owns 1,443 shares of the Wireless communications provider’s stock worth $66,000 after purchasing an additional 388 shares during the period. Samson Rock Capital LLP bought a new stake in shares of VEON in the 2nd quarter valued at $138,000. Truist Financial Corp acquired a new stake in VEON during the 3rd quarter worth $208,000. Personal CFO Solutions LLC bought a new position in VEON during the third quarter worth about $208,000. Finally, Burns Matteson Capital Management LLC bought a new position in VEON during the third quarter worth about $211,000. Institutional investors and hedge funds own 21.30% of the company’s stock.

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.