VEON (NASDAQ:VEON) Rating Lowered to Hold at Zacks Research

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

Several other research analysts also recently commented on the stock. Rothschild & Co Redburn set a $74.00 target price on shares of VEON and gave the stock a “buy” rating in a report on Thursday, April 16th. Benchmark reiterated a “buy” rating on shares of VEON in a report on Friday, March 13th. Wall Street Zen upgraded shares of VEON from a “buy” rating to a “strong-buy” rating in a report on Monday. Finally, Weiss Ratings downgraded shares of VEON from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $67.00.

VEON Stock Up 1.6%

VEON stock opened at $55.44 on Monday. The company has a market capitalization of $4.10 billion, a P/E ratio of 7.43 and a beta of 1.61. The firm’s fifty day simple moving average is $50.65 and its 200-day simple moving average is $51.70. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 2.15. VEON has a 1-year low of $34.55 and a 1-year high of $64.00.

VEON (NASDAQ:VEON) last released its quarterly earnings results on Thursday, April 30th. The Wireless communications provider reported $1.50 earnings per share for the quarter. VEON had a net margin of 11.65% and a return on equity of 44.43%. Sell-side analysts forecast that VEON will post 8.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in VEON. NewEdge Advisors LLC bought a new position in shares of VEON during the 1st quarter worth about $400,000. Jones Financial Companies Lllp increased its holdings in shares of VEON by 84,690.0% during the 1st quarter. Jones Financial Companies Lllp now owns 16,958 shares of the Wireless communications provider’s stock worth $740,000 after purchasing an additional 16,938 shares during the period. Jane Street Group LLC increased its holdings in shares of VEON by 177.9% during the 1st quarter. Jane Street Group LLC now owns 16,374 shares of the Wireless communications provider’s stock worth $714,000 after purchasing an additional 10,483 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of VEON by 267.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 55,827 shares of the Wireless communications provider’s stock worth $2,572,000 after purchasing an additional 40,614 shares during the period. Finally, Bank of America Corp DE increased its holdings in shares of VEON by 1.0% during the 2nd quarter. Bank of America Corp DE now owns 53,571 shares of the Wireless communications provider’s stock worth $2,468,000 after purchasing an additional 538 shares during the period. Institutional investors own 21.30% of the company’s stock.

VEON Company Profile

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.