VEON Ltd. (NASDAQ:VEON) Receives Consensus Recommendation of “Hold” from Analysts

VEON Ltd. (NASDAQ:VEON) has received an average rating of “Hold” from the five analysts that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $72.00.

A number of equities analysts have recently commented on the stock. Northland Securities assumed coverage on shares of VEON in a report on Tuesday, June 9th. They issued an “outperform” rating and a $70.00 target price on the stock. Zacks Research cut shares of VEON from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 16th. Wall Street Zen cut shares of VEON from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 26th. Benchmark reaffirmed a “buy” rating on shares of VEON in a report on Monday, June 15th. Finally, Rothschild & Co Redburn set a $74.00 target price on shares of VEON and gave the company a “buy” rating in a report on Thursday, April 16th.

Hedge Funds Weigh In On VEON

A number of hedge funds and other institutional investors have recently bought and sold shares of VEON. Panview Capital Ltd purchased a new position in VEON in the 3rd quarter valued at $22,481,000. Wellington Management Group LLP grew its position in VEON by 66.5% in the 4th quarter. Wellington Management Group LLP now owns 977,400 shares of the Wireless communications provider’s stock valued at $51,382,000 after buying an additional 390,294 shares during the last quarter. Mackenzie Financial Corp purchased a new position in VEON in the 3rd quarter valued at $15,005,000. Pictet Asset Management Holding SA grew its position in VEON by 77.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 225,643 shares of the Wireless communications provider’s stock valued at $11,862,000 after buying an additional 98,618 shares during the last quarter. Finally, Millennium Management LLC grew its position in VEON by 275.3% in the 3rd quarter. Millennium Management LLC now owns 133,478 shares of the Wireless communications provider’s stock valued at $7,265,000 after buying an additional 97,913 shares during the last quarter. 21.30% of the stock is currently owned by hedge funds and other institutional investors.

VEON Stock Performance

Shares of VEON stock opened at $51.96 on Tuesday. The firm’s fifty day simple moving average is $52.67 and its 200-day simple moving average is $52.40. The stock has a market capitalization of $3.84 billion, a price-to-earnings ratio of 6.97 and a beta of 1.63. VEON has a 12 month low of $42.54 and a 12 month high of $64.00. The company has a debt-to-equity ratio of 2.15, a current ratio of 0.86 and a quick ratio of 0.85.

VEON (NASDAQ:VEON) last announced its earnings results on Thursday, April 30th. The Wireless communications provider reported $1.50 EPS for the quarter. VEON had a net margin of 11.65% and a return on equity of 44.43%. As a group, equities analysts forecast that VEON will post 6.99 earnings per share for the current year.

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.