Analysts Set VEON Ltd (VEON) PT at $3.50
Shares of VEON Ltd (NASDAQ:VEON) have received a consensus recommendation of “Hold” from the nine analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $4.00.
A number of equities analysts have issued reports on VEON shares. BidaskClub raised VEON from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 13th. Zacks Investment Research raised VEON from a “sell” rating to a “hold” rating in a report on Thursday, June 14th. Bank of America cut VEON from a “buy” rating to a “neutral” rating in a report on Thursday, June 21st. JPMorgan Chase & Co. raised VEON from a “neutral” rating to an “overweight” rating in a report on Tuesday, July 3rd. Finally, Goldman Sachs Group raised VEON from a “neutral” rating to a “buy” rating and set a $4.00 price target for the company in a research note on Thursday, July 5th.
VEON traded up $0.06 on Friday, reaching $2.91. The stock had a trading volume of 8,133,158 shares, compared to its average volume of 2,048,030. VEON has a fifty-two week low of $2.20 and a fifty-two week high of $4.23. The company has a quick ratio of 0.94, a current ratio of 0.97 and a debt-to-equity ratio of 3.02. The stock has a market cap of $5.11 billion, a PE ratio of 48.50 and a beta of 2.50.
Hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of VEON by 42.3% in the first quarter. BlackRock Inc. now owns 123,320 shares of the Wireless communications provider’s stock valued at $326,000 after buying an additional 36,651 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of VEON by 18.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 989,288 shares of the Wireless communications provider’s stock valued at $2,612,000 after buying an additional 154,853 shares during the period. Guggenheim Capital LLC increased its stake in shares of VEON by 65.2% in the first quarter. Guggenheim Capital LLC now owns 152,383 shares of the Wireless communications provider’s stock valued at $403,000 after buying an additional 60,159 shares during the period. Exane Derivatives increased its stake in shares of VEON by 933.9% in the second quarter. Exane Derivatives now owns 110,708 shares of the Wireless communications provider’s stock valued at $265,000 after buying an additional 100,000 shares during the period. Finally, Verde Servicos Internacionais S.A. acquired a new stake in shares of VEON in the second quarter valued at about $2,910,000. 15.25% of the stock is owned by institutional investors.
VEON Company Profile
VEON Ltd., through its subsidiaries, provides mobile and fixed-line telecommunications services. It offers voice and data telecommunication services through a range of traditional and broadband mobile and fixed line technologies. The company provides mobile telecommunications services under contract and prepaid plans for corporate and consumer segments; value added services, including short messages, multimedia messages, caller number identification, call waiting, data transmission, mobile Internet, downloadable content, mobile finance, machine-to-machine, and other services; national and international roaming services; and mobile bundles.
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