VEON (NASDAQ:VEON) Rating Lowered to Hold at ValuEngine

VEON (NASDAQ:VEON) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, ValuEngine reports.

VEON has been the topic of a number of other research reports. Zacks Investment Research lowered shares of VEON from a “hold” rating to a “sell” rating in a research report on Saturday. Goldman Sachs Group upgraded shares of VEON from a “neutral” rating to a “buy” rating and raised their target price for the company from $3.40 to $4.00 in a research report on Thursday, July 11th. BidaskClub upgraded shares of VEON from a “sell” rating to a “hold” rating in a research report on Friday. UBS Group upgraded shares of VEON from a “neutral” rating to a “buy” rating and set a $3.00 target price on the stock in a research report on Monday, June 17th. Finally, Sberbank CIB lowered shares of VEON from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $3.19.

VEON stock traded down $0.03 during mid-day trading on Tuesday, reaching $2.37. The company had a trading volume of 1,473,578 shares, compared to its average volume of 5,403,027. VEON has a fifty-two week low of $2.07 and a fifty-two week high of $3.28. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 2.60. The company has a market cap of $4.22 billion, a P/E ratio of -10.30 and a beta of 1.87. The business has a fifty day simple moving average of $2.52 and a 200 day simple moving average of $2.55.

VEON (NASDAQ:VEON) last issued its earnings results on Thursday, August 1st. The Wireless communications provider reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.05). VEON had a net margin of 12.37% and a negative return on equity of 15.89%. The company had revenue of $2.26 billion during the quarter. Research analysts forecast that VEON will post 0.36 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in VEON. Dimensional Fund Advisors LP raised its stake in shares of VEON by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,975,032 shares of the Wireless communications provider’s stock valued at $9,304,000 after acquiring an additional 17,739 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of VEON by 7.5% during the first quarter. SG Americas Securities LLC now owns 97,028 shares of the Wireless communications provider’s stock valued at $203,000 after acquiring an additional 6,780 shares during the last quarter. NumerixS Investment Technologies Inc raised its stake in shares of VEON by 140.1% during the first quarter. NumerixS Investment Technologies Inc now owns 77,800 shares of the Wireless communications provider’s stock valued at $164,000 after acquiring an additional 45,400 shares during the last quarter. AJO LP bought a new position in shares of VEON during the first quarter valued at $744,000. Finally, Evergreen Capital Management LLC bought a new position in shares of VEON during the first quarter valued at $62,000. 17.79% of the stock is owned by hedge funds and other 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 mobile and fixed-line technologies. The company provides value added services, including short messages, multimedia messages, caller number identification, call waiting, data transmission, mobile internet, downloadable content, mobile finance services, machine-to-machine, and other services; national and international roaming services; wireless Internet access and mobile financial services; and mobile bundles and call completion services.

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Analyst Recommendations for VEON (NASDAQ:VEON)

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