VEON (NASDAQ:VEON) Raised to “Hold” at Zacks Research

VEON (NASDAQ:VEON) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. Wall Street Zen downgraded shares of VEON from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Benchmark reissued a “buy” rating on shares of VEON in a research report on Monday, June 15th. Weiss Ratings lowered shares of VEON from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 18th. Northland Securities began coverage on shares of VEON in a report on Tuesday, June 9th. They issued an “outperform” rating and a $70.00 target price on the stock. Finally, Rothschild & Co Redburn set a $74.00 price target on shares of VEON and gave the stock a “buy” rating in a research note on Thursday, April 16th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, VEON has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

VEON Stock Up 0.4%

Shares of VEON opened at $54.52 on Tuesday. The company’s 50-day moving average price is $52.33 and its 200 day moving average price is $52.40. VEON has a 12-month low of $42.60 and a 12-month high of $64.00. The company has a current ratio of 0.97, a quick ratio of 0.85 and a debt-to-equity ratio of 2.30. The firm has a market cap of $4.03 billion, a P/E ratio of 64.14 and a beta of 1.65.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Osaic Holdings Inc. lifted its holdings in shares of VEON by 36.8% in the 2nd quarter. Osaic Holdings Inc. now owns 1,443 shares of the Wireless communications provider’s stock valued at $66,000 after purchasing an additional 388 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of VEON by 184.3% in the fourth quarter. Royal Bank of Canada now owns 2,431 shares of the Wireless communications provider’s stock valued at $128,000 after purchasing an additional 1,576 shares during the period. Truist Financial Corp lifted its holdings in shares of VEON by 5.1% during the fourth quarter. Truist Financial Corp now owns 4,014 shares of the Wireless communications provider’s stock worth $211,000 after purchasing an additional 195 shares during the period. Personal CFO Solutions LLC increased its stake in VEON by 7.0% in the 4th quarter. Personal CFO Solutions LLC now owns 4,097 shares of the Wireless communications provider’s stock valued at $215,000 after buying an additional 268 shares during the period. Finally, CWM LLC purchased a new position in shares of VEON during the 4th quarter worth approximately $219,000. 21.30% of the stock is owned by hedge funds and other institutional investors.

VEON Company Profile

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.