VEON (NASDAQ:VEON) Upgraded by Litchfield Hills Research to Strong-Buy Rating

VEON (NASDAQ:VEON) was upgraded by investment analysts at Litchfield Hills Research to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on the stock. Benchmark reiterated a “buy” rating and set a $60.00 price target on shares of VEON in a research report on Monday, June 16th. Wall Street Zen cut shares of VEON from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 21st.

VEON Trading Down 0.8%

VEON opened at $44.49 on Thursday. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.81 and a quick ratio of 0.80. The company’s 50 day simple moving average is $47.33 and its two-hundred day simple moving average is $44.27. VEON has a 1-year low of $25.48 and a 1-year high of $58.30. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of 7.02 and a beta of 1.51.

VEON (NASDAQ:VEON) last issued its earnings results on Thursday, May 15th. The Wireless communications provider reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.53. VEON had a net margin of 11.18% and a return on equity of 36.24%. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $996.00 million.

Institutional Investors Weigh In On VEON

Institutional investors have recently modified their holdings of the company. Diameter Capital Partners LP purchased a new stake in shares of VEON during the 4th quarter worth approximately $25,161,000. GAMMA Investing LLC raised its position in VEON by 5,190.9% during the 1st quarter. GAMMA Investing LLC now owns 157,563 shares of the Wireless communications provider’s stock worth $6,871,000 after buying an additional 154,585 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of VEON by 22.3% during the 1st quarter. Wellington Management Group LLP now owns 647,096 shares of the Wireless communications provider’s stock worth $28,220,000 after purchasing an additional 117,945 shares during the period. Cyrus Capital Partners L.P. acquired a new position in shares of VEON during the 4th quarter worth $2,994,000. Finally, J. Goldman & Co LP acquired a new position in shares of VEON during the 4th quarter worth $2,084,000. 21.30% of the stock is owned by hedge funds and other institutional investors.

About VEON

VEON Ltd., a digital operator, provides connectivity and internet services in Pakistan, Ukraine, Kazakhstan, Bangladesh, Uzbekistan, and Kyrgyzstan. It offers mobile telecommunications services, including value added and call completion, national and international roaming, wireless Internet access, mobile financial, and mobile bundle services; data connectivity, cross border transit, voice, Internet, and data services; fixed-line telecommunications using intercity fiber optic networks; and Internet-TV using Fiber to the building technology.