VimpelCom Ltd. (VEON) Receives Average Rating of “Buy” from Brokerages
Shares of VimpelCom Ltd. (NASDAQ:VEON) have been assigned a consensus recommendation of “Buy” from the twelve ratings firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $5.50.
A number of brokerages have recently issued reports on VEON. ValuEngine lowered shares of VimpelCom from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Royal Bank Of Canada set a $7.00 price objective on shares of VimpelCom and gave the stock a “buy” rating in a research note on Wednesday. Zacks Investment Research upgraded shares of VimpelCom from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, J P Morgan Chase & Co upgraded shares of VimpelCom from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $4.00 to $4.50 in a research report on Wednesday, July 26th.
Shares of VimpelCom (NASDAQ:VEON) traded up 0.25% during mid-day trading on Friday, hitting $3.97. The stock had a trading volume of 1,810,382 shares. The company’s 50 day moving average price is $4.00 and its 200 day moving average price is $4.02. VimpelCom has a 12-month low of $3.12 and a 12-month high of $4.50. The stock has a market cap of $6.94 billion, a P/E ratio of 4.11 and a beta of 2.31.
VimpelCom (NASDAQ:VEON) last posted its quarterly earnings data on Thursday, August 3rd. The Wireless communications provider reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by $0.09. The firm had revenue of $2.42 billion during the quarter. VimpelCom had a net margin of 18.26% and a negative return on equity of 8.29%. Equities research analysts predict that VimpelCom will post $0.28 EPS for the current fiscal year.
The business also recently declared a None dividend, which will be paid on Wednesday, September 6th. Shareholders of record on Monday, August 14th will be given a $0.11 dividend. The ex-dividend date is Thursday, August 10th. This represents a yield of 2.63%.
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Several institutional investors have recently added to or reduced their stakes in VEON. Abrams Capital Management L.P. acquired a new position in VimpelCom during the first quarter worth approximately $76,585,000. Macquarie Group Ltd. purchased a new position in shares of VimpelCom during the first quarter valued at about $32,486,000. OZ Management LP purchased a new position in shares of VimpelCom during the first quarter valued at about $31,987,000. Van ECK Associates Corp purchased a new position in shares of VimpelCom during the first quarter valued at about $30,549,000. Finally, Raging Capital Management LLC purchased a new position in shares of VimpelCom during the first quarter valued at about $26,798,000. 10.98% of the stock is owned by institutional investors.
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