VEON Ltd. (NASDAQ:VEON) Receives Average Rating of “Hold” from Analysts

Shares of VEON Ltd. (NASDAQ:VEON) have been given an average recommendation of “Hold” by the five research firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $72.00.

Several research analysts have commented on VEON shares. Benchmark reiterated a “buy” rating on shares of VEON in a report on Monday, June 15th. Weiss Ratings cut shares of VEON from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 18th. Zacks Research downgraded shares of VEON from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 16th. Northland Securities assumed coverage on shares of VEON in a research report on Tuesday, June 9th. They set an “outperform” rating and a $70.00 price objective for the company. Finally, Wall Street Zen downgraded shares of VEON from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 26th.

VEON Trading Up 0.6%

NASDAQ VEON opened at $51.96 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 2.15. VEON has a 52 week low of $42.54 and a 52 week high of $64.00. The stock has a market capitalization of $3.84 billion, a PE ratio of 6.97 and a beta of 1.63. The firm has a 50 day moving average of $52.67 and a two-hundred day moving average of $52.40.

VEON (NASDAQ:VEON) last posted its quarterly earnings results on Thursday, April 30th. The Wireless communications provider reported $1.50 EPS for the quarter. VEON had a net margin of 11.65% and a return on equity of 44.43%. As a group, research analysts expect that VEON will post 6.99 EPS for the current fiscal year.

Institutional Trading of VEON

Several institutional investors have recently modified their holdings of the stock. Lingotto Investment Management LLP lifted its position in shares of VEON by 0.3% during the 4th quarter. Lingotto Investment Management LLP now owns 6,060,852 shares of the Wireless communications provider’s stock worth $318,619,000 after buying an additional 16,758 shares during the last quarter. Shah Capital Management lifted its position in shares of VEON by 1.5% during the 4th 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 lifted its position in shares of VEON by 66.5% during the 4th 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 lifted its position in shares of VEON by 3.6% during the 4th 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 lifted its position in shares of VEON by 24.7% during the 4th 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. Hedge funds and other institutional investors own 21.30% of the company’s stock.

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.