VEON (NASDAQ:VEON) Downgraded by Zacks Research to “Strong Sell”

Zacks Research cut shares of VEON (NASDAQ:VEON) from a hold rating to a strong sell rating in a report published on Tuesday,Zacks.com reports.

Several other research firms also recently weighed in on VEON. Wall Street Zen downgraded shares of VEON from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 26th. Benchmark restated a “buy” rating on shares of VEON in a research note on Monday. Rothschild & Co Redburn set a $74.00 target price on shares of VEON and gave the stock a “buy” rating in a research note on Thursday, April 16th. Weiss Ratings cut shares of VEON from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 18th. Finally, Northland Securities started coverage on shares of VEON in a research report on Tuesday, June 9th. They issued an “outperform” rating and a $70.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $72.00.

VEON Stock Down 0.7%

VEON stock opened at $52.47 on Tuesday. The company has a market cap of $3.88 billion, a price-to-earnings ratio of 7.03 and a beta of 1.63. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 2.15. VEON has a 12 month low of $38.08 and a 12 month high of $64.00. The firm has a 50-day moving average of $52.66 and a two-hundred day moving average of $52.36.

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

Hedge Funds Weigh In On VEON

A number of hedge funds have recently made changes to their positions in VEON. Osaic Holdings Inc. grew its holdings in VEON by 36.8% during the 2nd quarter. Osaic Holdings Inc. now owns 1,443 shares of the Wireless communications provider’s stock worth $66,000 after acquiring an additional 388 shares in the last quarter. Royal Bank of Canada grew its holdings in VEON by 184.3% during the 4th quarter. Royal Bank of Canada now owns 2,431 shares of the Wireless communications provider’s stock worth $128,000 after acquiring an additional 1,576 shares in the last quarter. Personal CFO Solutions LLC acquired a new position in VEON during the 3rd quarter worth $208,000. Truist Financial Corp grew its holdings in VEON by 5.1% during the 4th quarter. Truist Financial Corp now owns 4,014 shares of the Wireless communications provider’s stock worth $211,000 after acquiring an additional 195 shares in the last quarter. Finally, CWM LLC acquired a new position in shares of VEON in the 4th quarter valued at about $219,000. Hedge funds and other institutional investors own 21.30% of the company’s stock.

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.