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

Wall Street Zen cut shares of VEON (NASDAQ:VEON) from a buy rating to a hold rating in a report released on Saturday morning.

Several other research analysts have also weighed in on VEON. Weiss Ratings reaffirmed a “hold (c)” rating on shares of VEON in a research report on Thursday, November 13th. Zacks Research lowered VEON from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, VEON has a consensus rating of “Moderate Buy” and a consensus target price of $60.00.

VEON Price Performance

VEON opened at $51.99 on Friday. VEON has a 1 year low of $31.01 and a 1 year high of $64.00. The company’s 50 day simple moving average is $50.70 and its 200 day simple moving average is $51.14. The stock has a market capitalization of $3.85 billion, a PE ratio of 3.81 and a beta of 1.58. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.87 and a current ratio of 0.87.

VEON (NASDAQ:VEON) last issued its quarterly earnings results on Monday, November 10th. The Wireless communications provider reported $1.14 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.07). The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. VEON had a return on equity of 72.76% and a net margin of 23.75%. VEON has set its FY 2025 guidance at EPS.

VEON declared that its board has authorized a stock buyback plan on Monday, November 17th that allows the company to buyback 0 outstanding shares. This buyback authorization allows the Wireless communications provider to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Institutional Trading of VEON

Several large investors have recently added to or reduced their stakes in VEON. Dorsey Wright & Associates acquired a new position in shares of VEON during the third quarter worth about $1,273,000. Caxton Associates LLP raised its holdings in shares of VEON by 174.0% during the 3rd quarter. Caxton Associates LLP now owns 16,856 shares of the Wireless communications provider’s stock valued at $917,000 after buying an additional 10,704 shares during the period. Voleon Capital Management LP purchased a new stake in shares of VEON during the 3rd quarter valued at about $1,282,000. VR Advisory Services Ltd lifted its position in VEON by 11.1% during the 3rd quarter. VR Advisory Services Ltd now owns 100,166 shares of the Wireless communications provider’s stock worth $5,452,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV purchased a new position in VEON in the 3rd quarter worth approximately $325,000. 21.30% of the stock is currently owned by institutional investors and hedge funds.

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.