VEON (NASDAQ:VEON) Lowered to “Buy” Rating by Wall Street Zen

VEON (NASDAQ:VEON) was downgraded by analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

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

VEON Stock Performance

NASDAQ:VEON opened at $40.00 on Friday. The firm has a market capitalization of $2.96 billion, a PE ratio of 6.31 and a beta of 1.51. The business’s fifty day moving average price is $47.37 and its 200 day moving average price is $44.05. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.80 and a quick ratio of 0.78. VEON has a 12 month low of $25.38 and a 12 month high of $58.30.

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

Institutional Investors Weigh In On VEON

Several hedge funds have recently made changes to their positions in the business. Lingotto Investment Management LLP boosted its stake in shares of 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 period. Wellington Management Group LLP boosted its stake in shares of VEON by 22.3% during the first quarter. Wellington Management Group LLP now owns 647,096 shares of the Wireless communications provider’s stock worth $28,220,000 after buying an additional 117,945 shares during the period. Diameter Capital Partners LP acquired a new stake in shares of VEON during the fourth quarter worth about $25,161,000. GAMMA Investing LLC boosted its stake in shares of VEON by 5,190.9% during the first quarter. GAMMA Investing LLC now owns 157,563 shares of the Wireless communications provider’s stock worth $6,871,000 after buying an additional 154,585 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in shares of VEON by 2.2% during the fourth quarter. Russell Investments Group Ltd. now owns 117,808 shares of the Wireless communications provider’s stock worth $4,724,000 after buying an additional 2,512 shares during the period. Institutional investors and hedge funds own 21.30% of the company’s stock.

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.