BidaskClub Lowers VimpelCom Ltd. (NASDAQ:VEON) to Sell

BidaskClub cut shares of VimpelCom Ltd. (NASDAQ:VEON) from a hold rating to a sell rating in a research report sent to investors on Friday, October 6th.

A number of other analysts have also recently commented on VEON. ValuEngine upgraded VimpelCom from a sell rating to a hold rating in a research report on Wednesday, June 28th. J P Morgan Chase & Co upgraded VimpelCom from an underweight rating to a neutral rating and lifted their target price for the stock from $4.00 to $4.50 in a research report on Wednesday, July 26th. Zacks Investment Research upgraded VimpelCom from a sell rating to a hold rating in a research report on Tuesday, August 8th. Finally, Royal Bank Of Canada set a $7.00 price target on VimpelCom and gave the stock a buy rating in a report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $5.35.

VimpelCom (NASDAQ:VEON) opened at 4.04 on Friday. The company’s 50-day moving average price is $4.12 and its 200-day moving average price is $4.01. VimpelCom has a 12-month low of $3.12 and a 12-month high of $4.50. The stock has a market cap of $7.07 billion, a PE ratio of 4.19 and a beta of 2.20.

VimpelCom (NASDAQ:VEON) last announced its quarterly earnings data on Thursday, August 3rd. The Wireless communications provider reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.09). The company had revenue of $2.42 billion during the quarter. VimpelCom had a net margin of 18.26% and a negative return on equity of 8.29%. On average, equities analysts expect that VimpelCom will post $0.31 EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in VEON. Abrams Capital Management L.P. purchased a new position in shares of VimpelCom during the first quarter worth about $76,585,000. Macquarie Group Ltd. purchased a new stake in VimpelCom in the 1st quarter valued at approximately $32,486,000. OZ Management LP purchased a new stake in VimpelCom in the 1st quarter valued at approximately $31,987,000. Raging Capital Management LLC purchased a new stake in VimpelCom in the 1st quarter valued at approximately $26,798,000. Finally, Bank of America Corp DE purchased a new stake in VimpelCom in the 1st quarter valued at approximately $25,470,000. 11.80% of the stock is currently owned by hedge funds and other institutional investors.

VimpelCom Company Profile

Analyst Recommendations for VimpelCom (NASDAQ:VEON)

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