Wall Street Zen Downgrades VEON (NASDAQ:VEON) to Buy

VEON (NASDAQ:VEON) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Tuesday.

Other equities analysts also recently issued research reports about the company. Weiss Ratings downgraded VEON from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 18th. Rothschild & Co Redburn set a $74.00 price objective on shares of VEON and gave the stock a “buy” rating in a research note on Thursday, April 16th. Zacks Research downgraded shares of VEON from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. Finally, Benchmark restated a “buy” rating on shares of VEON in a research note on Friday, March 13th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, VEON presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

VEON Stock Performance

NASDAQ:VEON opened at $56.41 on Tuesday. VEON has a 52 week low of $34.55 and a 52 week high of $64.00. The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.85 and a current ratio of 0.86. The stock’s 50 day moving average price is $51.07 and its 200 day moving average price is $51.95. The company has a market capitalization of $4.17 billion, a P/E ratio of 7.56 and a beta of 1.61.

VEON (NASDAQ:VEON) last announced its quarterly earnings results on Thursday, April 30th. The Wireless communications provider reported $1.50 EPS for the quarter. VEON had a return on equity of 44.43% and a net margin of 11.65%. On average, research analysts forecast that VEON will post 8.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Lingotto Investment Management LLP increased its position in VEON by 0.3% in the fourth quarter. Lingotto Investment Management LLP now owns 6,060,852 shares of the Wireless communications provider’s stock worth $318,619,000 after purchasing an additional 16,758 shares during the period. Shah Capital Management boosted its holdings in VEON by 1.5% during the fourth quarter. Shah Capital Management now owns 4,895,252 shares of the Wireless communications provider’s stock worth $257,343,000 after buying an additional 70,831 shares during the last quarter. Wellington Management Group LLP boosted its holdings in VEON by 66.5% during the fourth quarter. Wellington Management Group LLP now owns 977,400 shares of the Wireless communications provider’s stock worth $51,382,000 after buying an additional 390,294 shares during the last quarter. Solus Alternative Asset Management LP boosted its holdings in VEON by 3.6% during the fourth quarter. Solus Alternative Asset Management LP now owns 887,002 shares of the Wireless communications provider’s stock worth $46,630,000 after buying an additional 30,900 shares during the last quarter. Finally, Panview Capital Ltd boosted its holdings in VEON by 24.7% during the fourth quarter. Panview Capital Ltd now owns 514,927 shares of the Wireless communications provider’s stock worth $27,070,000 after buying an additional 101,906 shares during the last quarter. 21.30% of the stock is owned by 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.