VEON Ltd. (NASDAQ:VEON) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of VEON Ltd. (NASDAQ:VEON) have earned an average rating of “Moderate Buy” from the five research firms that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $72.00.

Several equities research analysts have commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of VEON in a research note on Thursday, August 13th. Benchmark reissued a “buy” rating on shares of VEON in a research note on Monday, June 15th. Northland Securities initiated coverage on VEON in a research note on Tuesday, June 9th. They issued an “outperform” rating and a $70.00 target price on the stock. Zacks Research upgraded shares of VEON from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Finally, Wall Street Zen raised shares of VEON from a “hold” rating to a “buy” rating in a report on Sunday, August 9th.

Insider Buying and Selling at VEON

In other news, Director Augie K. Fabela II bought 5,000 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was bought at an average price of $56.02 per share, for a total transaction of $280,100.00. Following the completion of the purchase, the director owned 96,000 shares of the company’s stock, valued at approximately $5,377,920. The trade was a 5.49% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Hedge Funds Weigh In On VEON

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP increased its stake in VEON by 66.5% during the 4th quarter. Wellington Management Group LLP now owns 977,400 shares of the Wireless communications provider’s stock worth $51,382,000 after acquiring an additional 390,294 shares during the period. Mackenzie Financial Corp acquired a new position in VEON during the third quarter worth about $15,005,000. Panview Capital Ltd lifted its stake in VEON by 24.7% in the 4th 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 last quarter. Pictet Asset Management Holding SA boosted its stake in shares of VEON by 77.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 225,643 shares of the Wireless communications provider’s stock valued at $11,862,000 after purchasing an additional 98,618 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of VEON by 275.3% in the third quarter. Millennium Management LLC now owns 133,478 shares of the Wireless communications provider’s stock worth $7,265,000 after purchasing an additional 97,913 shares during the last quarter. 21.30% of the stock is owned by institutional investors.

VEON Stock Down 2.4%

Shares of VEON stock opened at $56.09 on Wednesday. The business has a 50-day moving average price of $52.99 and a 200 day moving average price of $52.55. VEON has a fifty-two week low of $42.60 and a fifty-two week high of $64.00. The firm has a market cap of $4.15 billion, a P/E ratio of 65.99 and a beta of 1.65. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 2.30.

VEON (NASDAQ:VEON) last issued its earnings results on Friday, July 31st. The Wireless communications provider reported $1.69 EPS for the quarter, topping the consensus estimate of $1.46 by $0.23. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.23 billion. VEON had a return on equity of 14.93% and a net margin of 1.24%.During the same quarter last year, the firm earned $8.30 EPS. On average, sell-side analysts forecast that VEON will post 7.28 earnings per share for the current fiscal year.

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.