Zacks Investment Research downgraded shares of VimpelCom Ltd (NASDAQ:VIP) from a buy rating to a hold rating in a research note issued to investors on Wednesday.

According to Zacks, “VimpelCom Ltd. is one of the world’s largest integrated telecommunications services operators. It offers a wide range of wireless, fixed, and broadband services in Russia, Ukraine, Kazakhstan, Uzbekistan, Tajikistan, Armenia, Georgia, Kyrgyzstan, Vietnam, Cambodia, Laos, Algeria, Bangladesh, Pakistan, Burundi, Zimbabwe, Central African Republic, Italy and Canada. VimpelCom provides services under the Beeline, Kyivstar, djuice, Wind, Infostrada Mobilink, Leo, Banglalink, Telecel, and Djezzy brands. VimpelCom Ltd. is headquartered in Amsterdam, the Netherlands. “

A number of other equities analysts have also recently weighed in on VIP. Renaissance Capital cut VimpelCom from an outperform rating to a market perform rating and set a $4.60 price target for the company. in a report on Thursday, March 2nd. Goldman Sachs Group Inc initiated coverage on VimpelCom in a report on Monday, February 13th. They issued a buy rating and a $5.80 price target for the company. Finally, ING Group initiated coverage on VimpelCom in a report on Friday, March 10th. They issued a buy rating and a $5.80 price target for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $5.28.

VimpelCom (NASDAQ:VIP) opened at 4.10 on Wednesday. VimpelCom has a 1-year low of $3.12 and a 1-year high of $4.51. The company’s 50-day moving average price is $4.15 and its 200 day moving average price is $3.75. The firm has a market cap of $7.17 billion, a price-to-earnings ratio of 2.97 and a beta of 2.55.

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The business also recently declared a dividend, which will be paid on Thursday, March 30th. Stockholders of record on Thursday, March 30th will be issued a $0.146 dividend. This is a boost from VimpelCom’s previous dividend of $0.03. The ex-dividend date is Tuesday, March 28th.

Several institutional investors have recently added to or reduced their stakes in the company. Carl Domino Inc boosted its position in VimpelCom by 63.9% in the third quarter. Carl Domino Inc now owns 59,000 shares of the company’s stock worth $206,000 after buying an additional 23,000 shares during the period. State of New Jersey Common Pension Fund D increased its stake in shares of VimpelCom by 78.4% in the third quarter. State of New Jersey Common Pension Fund D now owns 73,500 shares of the company’s stock worth $256,000 after buying an additional 32,300 shares in the last quarter. Cheyne Capital Management UK LLP acquired a new stake in shares of VimpelCom during the third quarter worth approximately $871,000. World Asset Management Inc increased its stake in shares of VimpelCom by 8.1% in the third quarter. World Asset Management Inc now owns 117,493 shares of the company’s stock worth $409,000 after buying an additional 8,760 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of VimpelCom by 60.9% in the third quarter. Wells Fargo & Company MN now owns 557,259 shares of the company’s stock worth $1,940,000 after buying an additional 210,991 shares in the last quarter. 10.44% of the stock is owned by institutional investors.

About VimpelCom

VimpelCom Ltd. is an international communications and technology company. The Company provides voice and data services through a range of traditional and broadband mobile and fixed-line technologies and operates in Russia, Algeria, Pakistan, Bangladesh, Ukraine, Kazakhstan, Uzbekistan, Kyrgyzstan, Armenia, Tajikistan, Georgia, Laos, Zimbabwe and Italy.

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