Shares of VEON Ltd. (NASDAQ:VEON – Get Free Report) saw unusually-high trading volume on Friday following a stronger than expected earnings report. Approximately 84,881 shares changed hands during mid-day trading, an increase of 11% from the previous session’s volume of 76,629 shares.The stock last traded at $56.21 and had previously closed at $54.92.
The Wireless communications provider reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.53. VEON had a positive return on equity of 36.48% and a negative net margin of 81.71%. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $996.00 million.
Analyst Upgrades and Downgrades
Separately, Benchmark upped their price objective on VEON from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, March 25th.
Institutional Trading of VEON
Several institutional investors have recently added to or reduced their stakes in the stock. Lingotto Investment Management LLP boosted its holdings in VEON by 2.9% in the fourth quarter. Lingotto Investment Management LLP now owns 5,740,438 shares of the Wireless communications provider’s stock valued at $230,192,000 after acquiring an additional 159,714 shares during the last quarter. Helikon Investments Ltd boosted its holdings in VEON by 5.0% in the fourth quarter. Helikon Investments Ltd now owns 2,927,104 shares of the Wireless communications provider’s stock valued at $117,377,000 after acquiring an additional 138,149 shares during the last quarter. Wellington Management Group LLP boosted its holdings in VEON by 22.3% in the first quarter. Wellington Management Group LLP now owns 647,096 shares of the Wireless communications provider’s stock valued at $28,220,000 after acquiring an additional 117,945 shares during the last quarter. Diameter Capital Partners LP bought a new stake in VEON in the fourth quarter valued at approximately $25,161,000. Finally, GAMMA Investing LLC boosted its holdings in VEON by 5,190.9% in the first quarter. GAMMA Investing LLC now owns 157,563 shares of the Wireless communications provider’s stock valued at $6,871,000 after acquiring an additional 154,585 shares during the last quarter. 21.30% of the stock is currently owned by institutional investors.
VEON Price Performance
The company has a fifty day moving average of $44.24 and a 200 day moving average of $41.27. The firm has a market capitalization of $4.05 billion, a P/E ratio of 9.55 and a beta of 1.43. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.81 and a quick ratio of 0.80.
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.
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