VEON Ltd. (NASDAQ:VEON) Receives Consensus Rating of “Buy” from Analysts

VEON Ltd. (NASDAQ:VEON) has been assigned an average rating of “Buy” from the five brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $67.00.

VEON has been the topic of a number of recent analyst reports. Benchmark reaffirmed a “buy” rating on shares of VEON in a research note on Friday, March 13th. Zacks Research raised VEON from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 19th. Rothschild & Co Redburn set a $74.00 price objective on VEON and gave the stock a “buy” rating in a research note on Thursday, April 16th. Finally, Wall Street Zen raised VEON from a “buy” rating to a “strong-buy” rating in a research note on Monday.

Hedge Funds Weigh In On VEON

A number of hedge funds and other institutional investors have recently made changes to their positions in VEON. NewEdge Advisors LLC acquired a new position in shares of VEON in the first quarter worth approximately $400,000. Jones Financial Companies Lllp lifted its stake in shares of VEON by 84,690.0% in the first quarter. Jones Financial Companies Lllp now owns 16,958 shares of the Wireless communications provider’s stock worth $740,000 after acquiring an additional 16,938 shares during the period. Jane Street Group LLC lifted its stake in shares of VEON by 177.9% in the first quarter. Jane Street Group LLC now owns 16,374 shares of the Wireless communications provider’s stock worth $714,000 after acquiring an additional 10,483 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of VEON by 267.0% in the second quarter. JPMorgan Chase & Co. now owns 55,827 shares of the Wireless communications provider’s stock worth $2,572,000 after acquiring an additional 40,614 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of VEON by 1.0% in the second quarter. Bank of America Corp DE now owns 53,571 shares of the Wireless communications provider’s stock worth $2,468,000 after acquiring an additional 538 shares during the period. 21.30% of the stock is owned by institutional investors and hedge funds.

VEON Price Performance

VEON stock opened at $54.29 on Monday. The company has a fifty day moving average price of $50.59 and a 200-day moving average price of $51.61. The company has a market capitalization of $4.02 billion, a P/E ratio of 7.28 and a beta of 1.61. 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.

VEON (NASDAQ:VEON) last released its quarterly earnings results on Thursday, April 30th. The Wireless communications provider reported $1.50 earnings per share (EPS) for the quarter. VEON had a net margin of 11.65% and a return on equity of 44.43%. As a group, equities analysts expect that VEON will post 8.56 EPS for the current year.

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.