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

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VEON (NASDAQ:VEON) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Saturday, Zacks.com reports.

According to Zacks, “VEON Ltd. is engaged in telecommunication and digital services. It provides customers with voice, fixed broadband, data and digital services. The company’s brand portfolio includes Beeline, Kyivstar, WIND, Jazz, Banglalink and Djezzy. It operates primarily in Russia, Italy, Algeria, Pakistan, Uzbekistan, Kazakhstan, Ukraine, Bangladesh, Kyrgyzstan, Tajikistan, Armenia, Georgia and Laos. VEON Ltd, formerly known as VimpelCom Ltd., is headquartered in Amsterdam, Netherland. “

Other equities analysts also recently issued reports about the stock. ValuEngine downgraded shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, May 28th. UBS Group downgraded shares of JinkoSolar from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $22.00 to $25.00 in a research note on Monday, June 17th. BidaskClub downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday. Goldman Sachs Group upgraded shares of Altria Group from a “neutral” rating to a “buy” rating and set a $59.00 price objective for the company in a research note on Thursday. Finally, Bank of America restated a “buy” rating and set a $43.00 price objective (up from $36.00) on shares of The Medicines in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $3.19.

VEON stock traded down $0.03 during trading hours on Friday, reaching $3.17. 3,871,004 shares of the stock were exchanged, compared to its average volume of 8,837,672. The firm’s 50-day simple moving average is $2.61. The company has a market cap of $5.62 billion, a P/E ratio of -13.78 and a beta of 1.81. VEON has a 12 month low of $2.07 and a 12 month high of $3.28.

VEON (NASDAQ:VEON) last posted its quarterly earnings data on Thursday, May 2nd. The Wireless communications provider reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.02. VEON had a net margin of 10.00% and a negative return on equity of 17.37%. The company had revenue of $2.12 billion during the quarter. On average, equities research analysts predict that VEON will post 0.39 earnings per share for the current year.

Large investors have recently modified their holdings of the stock. Paloma Partners Management Co acquired a new stake in VEON in the 4th quarter valued at about $30,000. Squarepoint Ops LLC bought a new position in VEON in the 4th quarter valued at about $42,000. Arete Wealth Advisors LLC bought a new position in VEON in the 4th quarter valued at about $47,000. Evergreen Capital Management LLC bought a new position in VEON in the 1st quarter valued at about $62,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in VEON in the 4th quarter valued at about $63,000. Institutional investors and hedge funds own 16.22% of the company’s stock.

About VEON

VEON Ltd., through its subsidiaries, provides mobile and fixed-line telecommunications services. It offers voice and data telecommunication services through a range of mobile and fixed-line technologies. The company provides value added services, including short messages, multimedia messages, caller number identification, call waiting, data transmission, mobile internet, downloadable content, mobile finance services, machine-to-machine, and other services; national and international roaming services; wireless Internet access and mobile financial services; and mobile bundles and call completion services.

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