VEON (NASDAQ:VEON) Stock Rating Lowered by Zacks Research

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

Several other research analysts have also issued reports on the company. Rothschild & Co Redburn set a $74.00 target price on VEON and gave the company a “buy” rating in a research report on Thursday, April 16th. Benchmark reaffirmed a “buy” rating on shares of VEON in a research report on Monday. Wall Street Zen lowered VEON from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 26th. Northland Securities initiated coverage on VEON in a research report on Tuesday, June 9th. They set an “outperform” rating and a $70.00 target price on the stock. Finally, Weiss Ratings lowered VEON from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $72.00.

VEON Trading Down 0.7%

Shares of NASDAQ:VEON opened at $52.47 on Tuesday. The business’s 50-day moving average is $52.66 and its 200 day moving average is $52.36. VEON has a 1 year low of $38.08 and a 1 year high of $64.00. The firm has a market capitalization of $3.88 billion, a P/E ratio of 7.03 and a beta of 1.63. The company has a debt-to-equity ratio of 2.15, a current ratio of 0.86 and a quick ratio of 0.85.

VEON (NASDAQ:VEON) last announced its earnings results on Thursday, April 30th. The Wireless communications provider reported $1.50 earnings per share (EPS) for the quarter. VEON had a return on equity of 44.43% and a net margin of 11.65%. On average, research analysts predict that VEON will post 6.99 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Lingotto Investment Management LLP increased its holdings in shares of 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 valued at $318,619,000 after purchasing an additional 16,758 shares during the period. Shah Capital Management increased its holdings in shares of VEON by 1.5% in the fourth quarter. Shah Capital Management now owns 4,895,252 shares of the Wireless communications provider’s stock valued at $257,343,000 after purchasing an additional 70,831 shares during the period. Wellington Management Group LLP increased its holdings in shares of VEON by 66.5% in the fourth quarter. Wellington Management Group LLP now owns 977,400 shares of the Wireless communications provider’s stock valued at $51,382,000 after purchasing an additional 390,294 shares during the period. Solus Alternative Asset Management LP increased its holdings in shares of VEON by 3.6% in the fourth quarter. Solus Alternative Asset Management LP now owns 887,002 shares of the Wireless communications provider’s stock valued at $46,630,000 after purchasing an additional 30,900 shares during the period. Finally, Panview Capital Ltd increased its holdings in shares of VEON by 24.7% in the fourth quarter. Panview Capital Ltd now owns 514,927 shares of the Wireless communications provider’s stock valued at $27,070,000 after purchasing an additional 101,906 shares during the period. 21.30% of the stock is owned by institutional investors and hedge funds.

About VEON

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.