VEON (NASDAQ:VEON) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of VEON (NASDAQ:VEON) from a sell rating to a hold rating in a research note published on Saturday morning, Zacks.com reports.

According to Zacks, “VEON Ltd. is engaged in telecommunication and digital services. It provides customers with voice, fixed broadband, data and digital services. The company’s brand portfolio includes Beeline, Kyivstar, WIND, Jazz, Banglalink and Djezzy. It operates primarily in Russia, Italy, Algeria, Pakistan, Uzbekistan, Kazakhstan, Ukraine, Bangladesh, Kyrgyzstan, Tajikistan, Armenia, Georgia and Laos. VEON Ltd, formerly known as VimpelCom Ltd., is headquartered in Amsterdam, Netherland. “

Several other equities research analysts also recently issued reports on VEON. TheStreet upgraded VEON from a d+ rating to a c- rating in a report on Thursday, July 11th. UBS Group upgraded VEON from a neutral rating to a buy rating and set a $3.00 price target for the company in a report on Monday, June 17th. BidaskClub downgraded VEON from a hold rating to a sell rating in a report on Thursday, September 19th. Sberbank CIB downgraded VEON from a buy rating to a hold rating in a report on Thursday, September 12th. Finally, Bank of America upgraded VEON from a neutral rating to a buy rating and set a $3.17 price target for the company in a report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $3.19.



NASDAQ VEON opened at $2.42 on Friday. The company has a market cap of $4.24 billion, a price-to-earnings ratio of -10.52 and a beta of 1.87. VEON has a 52 week low of $2.07 and a 52 week high of $3.28. The business has a 50 day moving average price of $2.58 and a 200-day moving average price of $2.55. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 2.60.

VEON (NASDAQ:VEON) last announced its quarterly earnings results on Thursday, August 1st. The Wireless communications provider reported $0.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.05). VEON had a negative return on equity of 15.89% and a net margin of 12.37%. The company had revenue of $2.26 billion for the quarter. On average, equities research analysts anticipate that VEON will post 0.36 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in the stock. GABELLI & Co INVESTMENT ADVISERS INC. grew its holdings in VEON by 27.3% during the second quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 28,000 shares of the Wireless communications provider’s stock worth $78,000 after buying an additional 6,000 shares in the last quarter. Corient Capital Partners LLC grew its stake in VEON by 56.9% in the 2nd quarter. Corient Capital Partners LLC now owns 16,788 shares of the Wireless communications provider’s stock valued at $47,000 after purchasing an additional 6,085 shares during the period. SG Americas Securities LLC grew its stake in VEON by 7.5% in the 1st quarter. SG Americas Securities LLC now owns 97,028 shares of the Wireless communications provider’s stock valued at $203,000 after purchasing an additional 6,780 shares during the period. Skandinaviska Enskilda Banken AB publ grew its stake in VEON by 3.0% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 258,615 shares of the Wireless communications provider’s stock valued at $724,000 after purchasing an additional 7,450 shares during the period. Finally, UBS Group AG grew its stake in VEON by 0.4% in the 2nd quarter. UBS Group AG now owns 2,417,781 shares of the Wireless communications provider’s stock valued at $6,770,000 after purchasing an additional 9,365 shares during the period. Institutional investors and hedge funds own 17.76% of the company’s stock.

About VEON

VEON Ltd., through its subsidiaries, provides mobile and fixed-line telecommunications services. It offers voice and data telecommunication services through a range of mobile and fixed-line technologies. The company provides value added services, including short messages, multimedia messages, caller number identification, call waiting, data transmission, mobile internet, downloadable content, mobile finance services, machine-to-machine, and other services; national and international roaming services; wireless Internet access and mobile financial services; and mobile bundles and call completion services.

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