VEON (NASDAQ:VEON) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of VEON (NASDAQ:VEON) from a buy rating to a strong-buy rating in a research report sent to investors on Monday morning,Wall Street Zen reports.

Several other analysts have also recently commented on VEON. Zacks Research upgraded VEON from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Northland Securities initiated coverage on VEON in a report on Tuesday, June 9th. They issued an “outperform” rating and a $70.00 price objective on the stock. Benchmark reaffirmed a “buy” rating on shares of VEON in a research note on Monday, June 15th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of VEON in a report on Thursday, August 13th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $79.50.

VEON Stock Down 0.1%

VEON stock opened at $73.93 on Monday. The stock has a market capitalization of $5.47 billion, a P/E ratio of 86.98 and a beta of 1.63. The firm has a 50-day simple moving average of $61.58 and a 200-day simple moving average of $55.20. 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 has a 52 week low of $42.60 and a 52 week high of $76.03.

VEON (NASDAQ:VEON) last issued its quarterly earnings results on Friday, July 31st. The Wireless communications provider reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.23. VEON had a net margin of 1.24% and a return on equity of 14.93%. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period last year, the company posted $8.30 EPS. Equities analysts forecast that VEON will post 7.39 earnings per share for the current fiscal year.

Insider Buying and Selling at VEON

In related news, Director K II purchased 15,000 shares of the company’s stock in a transaction dated Thursday, August 6th. The stock was acquired at an average cost of $56.00 per share, for a total transaction of $840,000.00. Following the completion of the transaction, the director directly owned 91,000 shares of the company’s stock, valued at approximately $5,096,000. This trade represents a 19.74% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Hedge Funds Weigh In On VEON

Institutional investors have recently added to or reduced their stakes in the stock. Lingotto Investment Management LLP boosted its stake in VEON by 0.3% during the fourth quarter. Lingotto Investment Management LLP now owns 6,060,852 shares of the Wireless communications provider’s stock worth $318,619,000 after buying an additional 16,758 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of VEON by 2.8% during the 1st quarter. Bank of America Corp DE now owns 69,754 shares of the Wireless communications provider’s stock worth $3,230,000 after acquiring an additional 1,923 shares during the period. Cygnus Capital Advisors LLC boosted its position in shares of VEON by 36.8% during the 2nd quarter. Cygnus Capital Advisors LLC now owns 53,180 shares of the Wireless communications provider’s stock valued at $2,777,000 after acquiring an additional 14,300 shares during the last quarter. RWC Asset Management LLP boosted its position in shares of VEON by 1.1% during the 4th quarter. RWC Asset Management LLP now owns 38,040 shares of the Wireless communications provider’s stock valued at $2,000,000 after acquiring an additional 422 shares during the last quarter. Finally, Dorsey Wright & Associates boosted its position in shares of VEON by 45.7% during the 1st quarter. Dorsey Wright & Associates now owns 35,457 shares of the Wireless communications provider’s stock valued at $1,642,000 after acquiring an additional 11,129 shares during the last quarter. Hedge funds and other institutional investors own 21.30% of the company’s stock.

VEON Company Profile

VEON Ltd. is a global telecommunications and digital services company that provides mobile and fixed connectivity, communications services, and digital products through operating companies in emerging markets. Its services include voice and data plans, broadband access, mobile financial services, digital entertainment, and business solutions for consumers and enterprises.

VEON operates through well-known regional brands, including Kyivstar in Ukraine, Jazz in Pakistan, Banglalink in Bangladesh, and Beeline in Kazakhstan and Uzbekistan.