Litchfield Hills Research Predicts Weaker Earnings for VEON

VEON Ltd. (NASDAQ:VEON) – Analysts at Litchfield Hills Research cut their FY2027 earnings estimates for VEON in a note issued to investors on Thursday, August 20th. Litchfield Hills Research analyst T. O’neill now expects that the Wireless communications provider will post earnings of $8.88 per share for the year, down from their previous forecast of $8.95. The consensus estimate for VEON’s current full-year earnings is $7.28 per share.

VEON (NASDAQ:VEON) last announced its quarterly earnings data on Friday, July 31st. The Wireless communications provider reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.23. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations 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 firm earned $8.30 earnings per share.

VEON has been the subject of several other research reports. Benchmark reiterated a “buy” rating on shares of VEON in a research note on Monday, June 15th. Weiss Ratings restated a “hold (c)” rating on shares of VEON in a research note on Thursday, August 13th. Wall Street Zen raised shares of VEON from a “hold” rating to a “buy” rating in a report on Sunday, August 9th. Northland Securities started coverage on shares of VEON in a research note on Tuesday, June 9th. They issued an “outperform” rating and a $70.00 price target for the company. Finally, Zacks Research upgraded shares of VEON from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, VEON presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

VEON Trading Up 0.1%

NASDAQ:VEON opened at $56.43 on Friday. VEON has a 12-month low of $42.60 and a 12-month high of $63.29. The firm has a market cap of $4.17 billion, a PE ratio of 66.39 and a beta of 1.65. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 2.30. The stock has a fifty day moving average price of $53.25 and a 200 day moving average price of $52.57.

Insider Buying and Selling

In other VEON news, Director Augie K. Fabela II purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was purchased at an average price of $56.02 per share, for a total transaction of $280,100.00. Following the purchase, the director directly owned 96,000 shares in the company, valued at approximately $5,377,920. This trade represents a 5.49% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Hedge Funds Weigh In On VEON

Large investors have recently bought and sold shares of the company. Osaic Holdings Inc. boosted its holdings in VEON by 36.8% during the second quarter. Osaic Holdings Inc. now owns 1,443 shares of the Wireless communications provider’s stock worth $66,000 after buying an additional 388 shares in the last quarter. Royal Bank of Canada lifted its stake in VEON by 184.3% in the 4th quarter. Royal Bank of Canada now owns 2,431 shares of the Wireless communications provider’s stock valued at $128,000 after buying an additional 1,576 shares in the last quarter. Truist Financial Corp lifted its stake in VEON by 5.1% in the 4th quarter. Truist Financial Corp now owns 4,014 shares of the Wireless communications provider’s stock valued at $211,000 after buying an additional 195 shares in the last quarter. Personal CFO Solutions LLC grew its holdings in VEON by 14.4% during the 1st quarter. Personal CFO Solutions LLC now owns 4,689 shares of the Wireless communications provider’s stock valued at $217,000 after buying an additional 592 shares during the last quarter. Finally, CWM LLC acquired a new stake in VEON during the 4th quarter valued at $219,000. Hedge funds and other institutional investors own 21.30% of the company’s stock.

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.