Share Repurchase Plan Approved by VEON (NASDAQ:VEON) Board

VEON (NASDAQ:VEON) declared that its Board of Directors has initiated a share buyback program on Monday, November 17th, RTT News reports. The company plans to buyback 0 outstanding shares. This buyback authorization authorizes the Wireless communications provider to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

VEON Stock Performance

NASDAQ VEON opened at $52.02 on Thursday. The firm has a market capitalization of $3.85 billion, a P/E ratio of 3.81 and a beta of 1.58. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.57. The firm’s fifty day moving average price is $50.79 and its two-hundred day moving average price is $50.98. VEON has a 1 year low of $30.20 and a 1 year high of $64.00.

VEON (NASDAQ:VEON) last released its quarterly earnings data on Monday, November 10th. The Wireless communications provider reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.07). The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. VEON had a return on equity of 72.76% and a net margin of 23.75%. VEON has set its FY 2025 guidance at EPS.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Wall Street Zen downgraded shares of VEON from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Weiss Ratings restated a “hold (c)” rating on shares of VEON in a report on Thursday, November 13th. Finally, Zacks Research downgraded VEON from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, VEON has an average rating of “Moderate Buy” and an average price target of $60.00.

VEON Company Profile

VEON Ltd., a digital operator, provides connectivity and internet services in Pakistan, Ukraine, Kazakhstan, Bangladesh, Uzbekistan, and Kyrgyzstan. It offers mobile telecommunications services, including value added and call completion, national and international roaming, wireless Internet access, mobile financial, and mobile bundle services; data connectivity, cross border transit, voice, Internet, and data services; fixed-line telecommunications using intercity fiber optic networks; and Internet-TV using Fiber to the building technology.