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

VEON Ltd. (NASDAQ:VEON) has been assigned a consensus recommendation of “Moderate Buy” from the five research firms that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $72.00.

A number of analysts have weighed in on the stock. Wall Street Zen raised shares of VEON from a “hold” rating to a “buy” rating in a report on Sunday, August 9th. Zacks Research raised shares of VEON from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Northland Securities initiated coverage on shares of VEON in a research note on Tuesday, June 9th. They set an “outperform” rating and a $70.00 price objective on the stock. Benchmark restated a “buy” rating on shares of VEON in a research note on Monday, June 15th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of VEON in a report on Thursday, August 13th.

VEON Stock Performance

Shares of VEON stock opened at $62.34 on Wednesday. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.96 and a current ratio of 0.97. VEON has a one year low of $42.60 and a one year high of $63.29. The company’s 50-day simple moving average is $53.75 and its 200-day simple moving average is $52.73. The stock has a market capitalization of $4.61 billion, a price-to-earnings ratio of 73.34 and a beta of 1.65.

VEON (NASDAQ:VEON) last announced its quarterly earnings data on Friday, July 31st. The Wireless communications provider reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.23. VEON had a return on equity of 14.93% and a net margin of 1.24%.The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the prior year, the firm posted $8.30 earnings per share. Equities analysts anticipate that VEON will post 7.39 earnings per share for the current fiscal year.

Insider Transactions at VEON

In related news, Director Augie K. Fabela II acquired 15,000 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was purchased at an average cost of $56.00 per share, for a total transaction of $840,000.00. Following the purchase, the director directly owned 91,000 shares in the company, valued at $5,096,000. This represents a 19.74% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

Hedge Funds Weigh In On VEON

Several institutional investors have recently modified their holdings of VEON. Truist Financial Corp increased its stake in VEON by 5.1% during the 4th quarter. Truist Financial Corp now owns 4,014 shares of the Wireless communications provider’s stock valued at $211,000 after buying an additional 195 shares during the period. Tidal Investments LLC lifted its stake in shares of VEON by 4.8% in the 2nd quarter. Tidal Investments LLC now owns 7,288 shares of the Wireless communications provider’s stock worth $336,000 after acquiring an additional 336 shares during the period. Severin Investments LLC boosted its holdings in shares of VEON by 4.2% in the fourth quarter. Severin Investments LLC now owns 8,857 shares of the Wireless communications provider’s stock valued at $466,000 after acquiring an additional 353 shares in the last quarter. Osaic Holdings Inc. increased its stake in shares of VEON by 36.8% during the second quarter. Osaic Holdings Inc. now owns 1,443 shares of the Wireless communications provider’s stock valued at $66,000 after acquiring an additional 388 shares during the period. Finally, RWC Asset Management LLP increased its stake in shares of VEON by 1.1% during the fourth quarter. RWC Asset Management LLP now owns 38,040 shares of the Wireless communications provider’s stock valued at $2,000,000 after acquiring an additional 422 shares during the period. 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.