VEON (NASDAQ:VEON) Sets New 1-Year High – Here’s What Happened

VEON Ltd. (NASDAQ:VEON) reached a new 52-week high during mid-day trading on Wednesday. The stock traded as high as $75.00 and last traded at $75.5950, with a volume of 83090 shares changing hands. The stock had previously closed at $73.97.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on VEON. Zacks Research raised VEON from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Cantor Fitzgerald assumed coverage on VEON in a research note on Friday. They issued an “overweight” rating and a $112.00 price objective for the company. Wall Street Zen raised VEON from a “buy” rating to a “strong-buy” rating in a report on Monday. Weiss Ratings reiterated a “hold (c)” rating on shares of VEON in a research report on Thursday, August 13th. Finally, Benchmark reiterated a “buy” rating on shares of VEON in a report on Monday, June 15th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $90.33.

VEON Stock Down 0.0%

The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.96 and a current ratio of 0.97. The firm has a market cap of $5.47 billion, a price-to-earnings ratio of 86.96 and a beta of 1.62. The business’s 50 day moving average price is $62.02 and its 200 day moving average price is $55.37.

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. VEON had a return on equity of 14.93% and a net margin of 1.24%.The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period last year, the company earned $8.30 earnings per share. On average, equities analysts forecast that VEON Ltd. will post 7.39 EPS for the current year.

Insider Activity

In related news, Director K II acquired 5,000 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were purchased at an average cost of $56.02 per share, for a total transaction of $280,100.00. Following the acquisition, the director owned 96,000 shares in the company, valued at $5,377,920. The trade was a 5.49% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Trading of VEON

Large investors have recently made changes to their positions in the company. Integrated Wealth Concepts LLC purchased a new stake in shares of VEON in the 2nd quarter valued at approximately $170,000. Personal CFO Solutions LLC grew its holdings in shares of VEON by 14.4% during the first quarter. Personal CFO Solutions LLC now owns 4,689 shares of the Wireless communications provider’s stock worth $217,000 after purchasing an additional 592 shares during the last quarter. Lazard Asset Management LLC grew its holdings in shares of VEON by 64.1% during the first quarter. Lazard Asset Management LLC now owns 7,597 shares of the Wireless communications provider’s stock worth $352,000 after purchasing an additional 2,967 shares during the last quarter. Handelsbanken Fonder AB increased its position in shares of VEON by 7.2% during the second quarter. Handelsbanken Fonder AB now owns 7,400 shares of the Wireless communications provider’s stock worth $386,000 after purchasing an additional 500 shares in the last quarter. Finally, QRG Capital Management Inc. increased its position in shares of VEON by 30.2% during the first quarter. QRG Capital Management Inc. now owns 17,557 shares of the Wireless communications provider’s stock worth $813,000 after purchasing an additional 4,073 shares in the last quarter. 21.30% of the stock is currently owned by hedge funds and other institutional investors.

About VEON

VEON Ltd. is a global telecommunications and digital services company that provides mobile and fixed connectivity, communications services, and digital products through operating companies in emerging markets. Its services include voice and data plans, broadband access, mobile financial services, digital entertainment, and business solutions for consumers and enterprises.

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