VEON (NASDAQ:VEON) Upgraded to “Strong-Buy” at Cantor Fitzgerald

VEON (NASDAQ:VEON) was upgraded by investment analysts at Cantor Fitzgerald to a “strong-buy” rating in a research report issued on Friday, Zacks reports.

Several other equities research analysts have also issued reports on the company. Wall Street Zen raised VEON from a “buy” rating to a “strong-buy” rating in a research report on Monday, September 28th. Zacks Research raised shares of VEON from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Northland Securities set a $85.00 price target on shares of VEON and gave the stock an “outperform” rating in a report on Tuesday. Benchmark restated a “buy” rating on shares of VEON in a research report on Monday, June 15th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of VEON in a report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $90.33.

VEON Price Performance

Shares of NASDAQ VEON opened at $75.64 on Friday. VEON has a twelve month low of $42.60 and a twelve month high of $78.83. The stock’s 50 day moving average price is $62.51 and its 200-day moving average price is $55.51. The company has a market capitalization of $5.60 billion, a PE ratio of 88.99 and a beta of 1.62. 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 quarterly earnings results on Friday, July 31st. The Wireless communications provider reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.23. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.23 billion. VEON had a return on equity of 14.93% and a net margin of 1.24%.During the same period last year, the business posted $8.30 earnings per share. On average, equities analysts anticipate that VEON will post 7.39 EPS for the current year.

Insiders Place Their Bets

In other news, Director K II acquired 15,000 shares of VEON stock in a transaction on Thursday, August 6th. The stock was acquired at an average cost of $56.00 per share, with a total value of $840,000.00. Following the completion of the acquisition, the director owned 91,000 shares in the company, valued at approximately $5,096,000. This trade represents a 19.74% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Trading of VEON

Hedge funds have recently made changes to their positions in the company. QRG Capital Management Inc. grew its stake in shares of VEON by 10.7% during the 2nd quarter. QRG Capital Management Inc. now owns 19,436 shares of the Wireless communications provider’s stock worth $1,015,000 after acquiring an additional 1,879 shares during the period. Integrated Wealth Concepts LLC bought a new stake in VEON in the 2nd quarter valued at about $170,000. Cygnus Capital Advisors LLC raised its stake in VEON by 36.8% in 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 period. Handelsbanken Fonder AB lifted its holdings in VEON by 7.2% during the second quarter. Handelsbanken Fonder AB now owns 7,400 shares of the Wireless communications provider’s stock valued at $386,000 after purchasing an additional 500 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in VEON by 82.2% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 29,518 shares of the Wireless communications provider’s stock valued at $1,541,000 after purchasing an additional 13,315 shares during the last quarter. 21.30% of the stock is currently owned by institutional investors.

About VEON

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.