VEON Ltd. (NASDAQ:VEON) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of VEON Ltd. (NASDAQ:VEON) have been assigned an average recommendation of “Moderate Buy” from the five ratings firms that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $72.00.

Several research analysts have commented on VEON shares. Zacks Research upgraded shares of VEON from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Northland Securities assumed coverage on shares of VEON in a research note on Tuesday, June 9th. They set an “outperform” rating and a $70.00 target price on the stock. Benchmark reiterated a “buy” rating on shares of VEON in a research report on Monday, June 15th. Wall Street Zen raised shares of VEON from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of VEON in a report on Thursday, August 13th.

Insider Buying and Selling at VEON

In other news, Director K II bought 15,000 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was purchased at an average price of $56.00 per share, with a total value of $840,000.00. Following the transaction, the director owned 91,000 shares of the company’s stock, valued at approximately $5,096,000. The trade was a 19.74% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Investors Weigh In On VEON

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lingotto Investment Management LLP raised its holdings in VEON by 0.3% in the fourth quarter. Lingotto Investment Management LLP now owns 6,060,852 shares of the Wireless communications provider’s stock worth $318,619,000 after purchasing an additional 16,758 shares in the last quarter. Wellington Management Group LLP grew its position in shares of VEON by 66.5% in 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 period. Solus Alternative Asset Management LP grew its position in shares of VEON by 3.6% in 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 period. Panview Capital Ltd grew its position in shares of VEON by 24.7% in 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 period. Finally, Two Sigma Investments LP increased its stake in shares of VEON by 31.5% in the 3rd quarter. Two Sigma Investments LP now owns 276,426 shares of the Wireless communications provider’s stock worth $15,046,000 after acquiring an additional 66,153 shares in the last quarter. 21.30% of the stock is owned by hedge funds and other institutional investors.

VEON Price Performance

Shares of VEON stock opened at $67.87 on Friday. The firm has a market cap of $5.02 billion, a PE ratio of 79.85 and a beta of 1.63. VEON has a 12-month low of $42.60 and a 12-month high of $69.50. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 2.30. The company’s fifty day simple moving average is $56.94 and its two-hundred day simple moving average is $53.68.

VEON (NASDAQ:VEON) last issued its quarterly earnings data on Friday, July 31st. The Wireless communications provider reported $1.69 EPS for the quarter, beating the consensus estimate of $1.46 by $0.23. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.23 billion. VEON had a net margin of 1.24% and a return on equity of 14.93%. During the same period in the prior year, the firm posted $8.30 earnings per share. As a group, equities analysts expect that VEON will post 7.39 EPS for the current year.

About VEON

VEON Ltd. (NASDAQ:VEON) is a global digital communications and services company that provides mobile connectivity, broadband, and digital products in high-growth markets. Its telecommunications operations serve consumers and businesses through mobile voice and data services, messaging, fixed broadband, and related connectivity solutions.

VEON operates through well-known local brands, including Kyivstar in Ukraine, Jazz in Pakistan, Banglalink in Bangladesh, and Beeline in Kazakhstan, Kyrgyzstan, and Uzbekistan.