VEON (NASDAQ:VEON) Trading Down 4.8% – What’s Next?

Shares of VEON Ltd. (NASDAQ:VEON) fell 4.8% on Wednesday . The stock traded as low as $49.44 and last traded at $49.49. 34,482 shares traded hands during trading, a decline of 80% from the average session volume of 169,412 shares. The stock had previously closed at $51.99.

Analysts Set New Price Targets

A number of equities analysts have commented on VEON shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of VEON in a research report on Tuesday, November 25th. Wall Street Zen lowered shares of VEON from a “buy” rating to a “hold” rating in a report on Saturday, November 22nd. Finally, Zacks Research cut shares of VEON from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.00.

VEON Trading Down 4.0%

The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 2.45. The firm has a market cap of $3.45 billion, a P/E ratio of 5.67 and a beta of 1.58. The firm’s fifty day moving average is $50.58 and its two-hundred day moving average is $51.21.

VEON (NASDAQ:VEON) last announced its quarterly earnings results on Monday, November 10th. The Wireless communications provider reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.07). VEON had a net margin of 15.26% and a return on equity of 58.72%. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion.

VEON declared that its Board of Directors has initiated a stock repurchase program on Monday, November 17th that permits the company to repurchase 0 shares. This repurchase authorization permits the Wireless communications provider to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On VEON

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VEON. Lingotto Investment Management LLP lifted its position in VEON by 1.2% during the second quarter. Lingotto Investment Management LLP now owns 5,957,666 shares of the Wireless communications provider’s stock valued at $274,470,000 after buying an additional 70,659 shares during the period. Wellington Management Group LLP increased its stake in shares of VEON by 22.3% in the 1st quarter. Wellington Management Group LLP now owns 647,096 shares of the Wireless communications provider’s stock worth $28,220,000 after acquiring an additional 117,945 shares in the last quarter. Panview Capital Ltd purchased a new position in VEON during the 3rd quarter valued at about $22,481,000. Two Sigma Investments LP boosted its stake in VEON by 31.5% during the third quarter. Two Sigma Investments LP now owns 276,426 shares of the Wireless communications provider’s stock worth $15,046,000 after acquiring an additional 66,153 shares in the last quarter. Finally, Mackenzie Financial Corp purchased a new stake in VEON in the third quarter worth about $15,005,000. 21.30% of the stock is owned by hedge funds and other institutional investors.

VEON Company Profile

VEON Ltd., a digital operator, provides connectivity and internet services in Pakistan, Ukraine, Kazakhstan, Bangladesh, Uzbekistan, and Kyrgyzstan. It offers mobile telecommunications services, including value added and call completion, national and international roaming, wireless Internet access, mobile financial, and mobile bundle services; data connectivity, cross border transit, voice, Internet, and data services; fixed-line telecommunications using intercity fiber optic networks; and Internet-TV using Fiber to the building technology.