VEON Ltd. (NASDAQ:VEON) Receives Average Recommendation of “Buy” from Analysts

Shares of VEON Ltd. (NASDAQ:VEON) have received a consensus recommendation of “Buy” from the five brokerages that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, two have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $67.00.

Several research analysts have commented on VEON shares. Benchmark restated a “buy” rating on shares of VEON in a research report on Friday, March 13th. Wall Street Zen upgraded shares of VEON from a “hold” rating to a “buy” rating in a research report on Sunday, May 10th. Rothschild & Co Redburn set a $74.00 target price on shares of VEON and gave the stock a “buy” rating in a research report on Thursday, April 16th. Finally, Zacks Research upgraded shares of VEON from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 19th.

VEON Price Performance

VEON opened at $54.29 on Monday. The firm has a market cap of $4.02 billion, a price-to-earnings ratio of 7.28 and a beta of 1.61. VEON has a fifty-two week low of $34.55 and a fifty-two week high of $64.00. The company’s 50-day moving average price is $50.59 and its 200 day moving average price is $51.60. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 2.47.

VEON (NASDAQ:VEON) last released its quarterly earnings data on Thursday, April 30th. The Wireless communications provider reported $1.50 earnings per share for the quarter. VEON had a net margin of 11.65% and a return on equity of 46.32%. As a group, sell-side analysts expect that VEON will post 8.56 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Lingotto Investment Management LLP grew its position in VEON by 0.3% in the 4th quarter. Lingotto Investment Management LLP now owns 6,060,852 shares of the Wireless communications provider’s stock worth $318,619,000 after purchasing an additional 16,758 shares during the last quarter. Shah Capital Management boosted its holdings in shares of VEON by 1.5% in the fourth quarter. Shah Capital Management now owns 4,895,252 shares of the Wireless communications provider’s stock valued at $257,343,000 after acquiring an additional 70,831 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of VEON by 66.5% in the fourth quarter. Wellington Management Group LLP now owns 977,400 shares of the Wireless communications provider’s stock valued at $51,382,000 after acquiring an additional 390,294 shares in the last quarter. Solus Alternative Asset Management LP boosted its holdings in shares of VEON by 3.6% in the fourth quarter. Solus Alternative Asset Management LP now owns 887,002 shares of the Wireless communications provider’s stock valued at $46,630,000 after acquiring an additional 30,900 shares in the last quarter. Finally, Panview Capital Ltd boosted its holdings in shares of VEON by 24.7% in the fourth quarter. Panview Capital Ltd now owns 514,927 shares of the Wireless communications provider’s stock valued at $27,070,000 after acquiring an additional 101,906 shares in the last quarter. 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.