VEON (NASDAQ:VEON) Downgraded to Hold Rating by Zacks Research

Zacks Research downgraded shares of VEON (NASDAQ:VEON) from a strong-buy rating to a hold rating in a research report sent to investors on Monday,Zacks.com reports.

A number of other brokerages have also recently commented on VEON. Rothschild & Co Redburn set a $74.00 target price on shares of VEON and gave the company a “buy” rating in a research report on Thursday, April 16th. Wall Street Zen raised shares of VEON from a “buy” rating to a “strong-buy” rating in a research note on Monday. Benchmark reiterated a “buy” rating on shares of VEON in a research note on Friday, March 13th. Finally, Weiss Ratings downgraded shares of VEON from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

VEON Trading Up 1.6%

Shares of VEON stock opened at $55.44 on Monday. The company has a debt-to-equity ratio of 2.15, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a fifty day moving average price of $50.65 and a 200 day moving average price of $51.70. VEON has a 1 year low of $34.55 and a 1 year high of $64.00. The stock has a market cap of $4.10 billion, a PE ratio of 7.43 and a beta of 1.61.

VEON (NASDAQ:VEON) last issued its earnings results on Thursday, April 30th. The Wireless communications provider reported $1.50 earnings per share (EPS) for the quarter. VEON had a net margin of 11.65% and a return on equity of 44.43%. Equities research analysts predict that VEON will post 8.56 earnings per share for the current year.

Hedge Funds Weigh In On VEON

Several institutional investors have recently bought and sold shares of VEON. Osaic Holdings Inc. increased its stake in VEON by 36.8% in the 2nd quarter. Osaic Holdings Inc. now owns 1,443 shares of the Wireless communications provider’s stock valued at $66,000 after buying an additional 388 shares during the period. Royal Bank of Canada boosted its position in shares of VEON by 184.3% in the 4th quarter. Royal Bank of Canada now owns 2,431 shares of the Wireless communications provider’s stock worth $128,000 after buying an additional 1,576 shares in the last quarter. Personal CFO Solutions LLC purchased a new stake in shares of VEON in the 3rd quarter worth about $208,000. Truist Financial Corp purchased a new stake in shares of VEON in the 3rd quarter worth about $208,000. Finally, CWM LLC purchased a new position in VEON in the 4th quarter valued at about $219,000. 21.30% of the stock is owned by institutional investors and hedge funds.

About VEON

VEON Ltd (NASDAQ: VEON) is a global telecommunications and digital services provider headquartered in Amsterdam, the Netherlands. Originally founded as VimpelCom in Russia in 1992, the company rebranded to VEON in 2017 to reflect its transformation into a technology-driven operator. VEON operates as a holding company with direct investments in mobile and internet service providers across multiple emerging markets, delivering voice, data and digital services to individual and enterprise customers.

Through its operating subsidiaries, VEON offers a broad portfolio that includes 2G/3G/4G mobile access, fixed broadband, digital lifestyle applications and mobile financial services.