VEON (NASDAQ:VEON) Raised to “Strong-Buy” at Wall Street Zen

VEON (NASDAQ:VEON) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday, Wall Street Zen reports.

Several other equities research analysts also recently weighed in on VEON. Northland Securities initiated coverage on shares of VEON in a report on Tuesday, June 9th. They issued an “outperform” rating and a $70.00 price objective for the company. Benchmark restated a “buy” rating on shares of VEON in a research report on Monday, June 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of VEON in a research note on Thursday, August 13th. Finally, Zacks Research raised shares of VEON from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $72.00.

VEON Price Performance

VEON opened at $67.87 on Friday. VEON has a 12 month low of $42.60 and a 12 month high of $69.50. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.97 and a quick ratio of 0.96. The stock has a market cap of $5.02 billion, a P/E ratio of 79.85 and a beta of 1.63. The stock’s 50 day moving average price is $56.94 and its 200 day moving average price is $53.67.

VEON (NASDAQ:VEON) last announced its earnings results on Friday, July 31st. The Wireless communications provider reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.23. VEON had a return on equity of 14.93% and a net margin of 1.24%.The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the previous year, the business earned $8.30 EPS. As a group, research analysts predict that VEON will post 7.39 earnings per share for the current year.

Insider Buying and Selling at VEON

In other news, Director K II bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was acquired at an average price of $56.02 per share, with a total value of $280,100.00. Following the completion of the purchase, the director directly owned 96,000 shares of the company’s stock, valued at $5,377,920. This represents a 5.49% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Institutional Investors Weigh In On VEON

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Osaic Holdings Inc. boosted its position in shares of VEON by 36.8% during 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 in the last quarter. Royal Bank of Canada raised its holdings in shares of VEON by 184.3% in the 4th quarter. Royal Bank of Canada now owns 2,431 shares of the Wireless communications provider’s stock worth $128,000 after purchasing an additional 1,576 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of VEON in the 2nd quarter worth approximately $170,000. Truist Financial Corp lifted its stake in VEON by 5.1% during the fourth quarter. Truist Financial Corp now owns 4,014 shares of the Wireless communications provider’s stock valued at $211,000 after purchasing an additional 195 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in VEON during the third quarter valued at approximately $252,000. 21.30% of the stock is owned by institutional investors and hedge funds.

About VEON

VEON Ltd. (NASDAQ:VEON) is a global digital communications and services company that provides mobile connectivity, broadband, and digital products in high-growth markets. Its telecommunications operations serve consumers and businesses through mobile voice and data services, messaging, fixed broadband, and related connectivity solutions.

VEON operates through well-known local brands, including Kyivstar in Ukraine, Jazz in Pakistan, Banglalink in Bangladesh, and Beeline in Kazakhstan, Kyrgyzstan, and Uzbekistan.