VEON (NASDAQ:VEON) Cut to Buy at Wall Street Zen

Wall Street Zen downgraded shares of VEON (NASDAQ:VEON) from a strong-buy rating to a buy rating in a report issued on Saturday.

Separately, Benchmark reaffirmed a “buy” rating and set a $60.00 price objective on shares of VEON in a research report on Monday, June 16th.

VEON Stock Performance

NASDAQ:VEON opened at $39.00 on Friday. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.81 and a quick ratio of 0.80. VEON has a 1 year low of $25.38 and a 1 year high of $58.30. The stock’s 50 day simple moving average is $47.38 and its two-hundred day simple moving average is $44.22. The company has a market cap of $2.88 billion, a price-to-earnings ratio of 6.15 and a beta of 1.51.

VEON (NASDAQ:VEON) last released its quarterly earnings results on Thursday, May 15th. The Wireless communications provider reported $1.36 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.53. VEON had a return on equity of 36.24% and a net margin of 11.18%. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $996.00 million.

Institutional Trading of VEON

Several institutional investors have recently bought and sold shares of the business. Lingotto Investment Management LLP boosted its stake in VEON by 2.9% during the fourth quarter. Lingotto Investment Management LLP now owns 5,740,438 shares of the Wireless communications provider’s stock worth $230,192,000 after buying an additional 159,714 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of VEON by 22.3% during the 1st quarter. Wellington Management Group LLP now owns 647,096 shares of the Wireless communications provider’s stock worth $28,220,000 after purchasing an additional 117,945 shares during the last quarter. Diameter Capital Partners LP acquired a new position in shares of VEON during the 4th quarter worth about $25,161,000. GAMMA Investing LLC boosted its position in shares of VEON by 5,190.9% during the 1st quarter. GAMMA Investing LLC now owns 157,563 shares of the Wireless communications provider’s stock worth $6,871,000 after acquiring an additional 154,585 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of VEON by 2.2% during the 4th quarter. Russell Investments Group Ltd. now owns 117,808 shares of the Wireless communications provider’s stock worth $4,724,000 after acquiring an additional 2,512 shares in the last quarter. 21.30% of the stock is owned by institutional investors and hedge funds.

About VEON

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.