VEON (NASDAQ:VEON) Upgraded by Zacks Research to Hold Rating

VEON (NASDAQ:VEON) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

VEON has been the topic of several other research reports. Weiss Ratings reissued a “hold (c)” rating on shares of VEON in a research note on Monday, December 29th. Wall Street Zen upgraded VEON from a “hold” rating to a “buy” rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.00.

VEON Stock Performance

Shares of VEON opened at $52.04 on Thursday. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.94 and a current ratio of 0.95. VEON has a twelve month low of $34.55 and a twelve month high of $64.00. The firm’s 50 day moving average price is $50.92 and its two-hundred day moving average price is $51.83. The firm has a market cap of $3.59 billion, a P/E ratio of 5.91 and a beta of 1.59.

VEON (NASDAQ:VEON) last issued its quarterly earnings data on Monday, November 10th. The Wireless communications provider reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.07). VEON had a return on equity of 58.72% and a net margin of 15.26%.The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion.

VEON announced that its Board of Directors has approved a stock repurchase program on Monday, November 17th that allows the company to buyback 0 outstanding shares. This buyback authorization allows the Wireless communications provider to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of VEON

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Osaic Holdings Inc. raised its holdings in VEON by 36.8% during the second quarter. Osaic Holdings Inc. now owns 1,443 shares of the Wireless communications provider’s stock worth $66,000 after acquiring an additional 388 shares in the last quarter. Samson Rock Capital LLP acquired a new position in shares of VEON during the 2nd quarter worth approximately $138,000. Truist Financial Corp acquired a new position in shares of VEON during the 3rd quarter worth approximately $208,000. Personal CFO Solutions LLC bought a new stake in shares of VEON during the 3rd quarter worth approximately $208,000. Finally, Burns Matteson Capital Management LLC acquired a new stake in shares of VEON in the 3rd quarter valued at approximately $211,000. Institutional investors and hedge funds 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.