VEON (NASDAQ:VEON) Stock Rating Lowered by Wall Street Zen

VEON (NASDAQ:VEON) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Sunday, Wall Street Zen reports.

Other equities research analysts also recently issued research reports about the company. Northland Securities assumed coverage on VEON in a research report on Tuesday, June 9th. They set an “outperform” rating and a $70.00 price objective for the company. Benchmark restated a “buy” rating on shares of VEON in a report on Monday, June 15th. Zacks Research raised VEON from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of VEON in a report on Thursday, August 13th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $72.00.

VEON Price Performance

NASDAQ:VEON opened at $69.67 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 2.30. The business’s 50-day moving average price is $58.84 and its 200 day moving average price is $54.23. VEON has a 52-week low of $42.60 and a 52-week high of $71.10. The firm has a market cap of $5.15 billion, a P/E ratio of 81.96 and a beta of 1.63.

VEON (NASDAQ:VEON) last issued its quarterly earnings results on Friday, July 31st. The Wireless communications provider reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.23. VEON had a net margin of 1.24% and a return on equity of 14.93%. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the prior year, the company earned $8.30 EPS. As a group, sell-side analysts predict that VEON will post 7.39 earnings per share for the current fiscal year.

Insider Activity at VEON

In other VEON news, Director K II purchased 5,000 shares of the stock in a transaction dated Friday, August 7th. The shares were acquired at an average price of $56.02 per share, for a total transaction of $280,100.00. Following the completion of the acquisition, the director owned 96,000 shares of the company’s stock, valued at $5,377,920. This represents a 5.49% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Investors Weigh In On VEON

A number of institutional investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC acquired a new position in shares of VEON in the 2nd quarter valued at about $170,000. Personal CFO Solutions LLC boosted its holdings in shares of VEON by 14.4% during the first quarter. Personal CFO Solutions LLC now owns 4,689 shares of the Wireless communications provider’s stock worth $217,000 after purchasing an additional 592 shares during the period. Lazard Asset Management LLC boosted its holdings in shares of VEON by 64.1% during the first quarter. Lazard Asset Management LLC now owns 7,597 shares of the Wireless communications provider’s stock worth $352,000 after purchasing an additional 2,967 shares during the period. Handelsbanken Fonder AB grew its position in VEON by 7.2% during the second quarter. Handelsbanken Fonder AB now owns 7,400 shares of the Wireless communications provider’s stock valued at $386,000 after purchasing an additional 500 shares in the last quarter. Finally, Severin Investments LLC grew its position in VEON by 4.2% during the fourth quarter. Severin Investments LLC now owns 8,857 shares of the Wireless communications provider’s stock valued at $466,000 after purchasing an additional 353 shares in the last quarter. 21.30% of the stock is currently owned by institutional investors and hedge funds.

VEON Company Profile

VEON Ltd. (NASDAQ:VEON) is a global digital communications and services company that provides mobile connectivity, broadband, and digital products in high-growth markets. Its telecommunications operations serve consumers and businesses through mobile voice and data services, messaging, fixed broadband, and related connectivity solutions.

VEON operates through well-known local brands, including Kyivstar in Ukraine, Jazz in Pakistan, Banglalink in Bangladesh, and Beeline in Kazakhstan, Kyrgyzstan, and Uzbekistan.