VEON (NASDAQ:VEON) Cut to Hold at Zacks Research

Zacks Research downgraded shares of VEON (NASDAQ:VEON) from a strong-buy rating to a hold rating in a research note published on Tuesday,Zacks.com reports.

Several other equities analysts also recently issued reports on the stock. Wall Street Zen upgraded shares of VEON from a “buy” rating to a “strong-buy” rating in a report on Sunday, June 29th. Litchfield Hills Research upgraded shares of VEON to a “strong-buy” rating in a research note on Thursday, June 26th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of VEON in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $60.00.

VEON Trading Down 0.3%

NASDAQ VEON opened at $50.59 on Tuesday. The company has a 50 day moving average price of $54.29 and a 200 day moving average price of $50.12. The firm has a market cap of $3.74 billion, a PE ratio of 3.71 and a beta of 1.58. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.57. VEON has a 52 week low of $29.80 and a 52 week high of $64.00.

VEON (NASDAQ:VEON) last announced its earnings results on Thursday, August 7th. The Wireless communications provider reported $8.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $7.35. VEON had a return on equity of 72.76% and a net margin of 23.75%.The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.02 billion. VEON has set its FY 2025 guidance at EPS.

Institutional Trading of VEON

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP grew its position in 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 period. Lingotto Investment Management LLP grew its holdings in VEON by 1.2% during the second quarter. Lingotto Investment Management LLP now owns 5,957,666 shares of the Wireless communications provider’s stock worth $274,470,000 after acquiring an additional 70,659 shares during the period. Cubist Systematic Strategies LLC grew its holdings in VEON by 783.6% during the first quarter. Cubist Systematic Strategies LLC now owns 53,936 shares of the Wireless communications provider’s stock worth $2,352,000 after acquiring an additional 47,832 shares during the period. JPMorgan Chase & Co. grew its holdings in VEON by 267.0% during the second quarter. JPMorgan Chase & Co. now owns 55,827 shares of the Wireless communications provider’s stock worth $2,572,000 after acquiring an additional 40,614 shares during the period. Finally, SBI Securities Co. Ltd. grew its holdings in VEON by 2,404.0% during the first quarter. SBI Securities Co. Ltd. now owns 35,983 shares of the Wireless communications provider’s stock worth $1,569,000 after acquiring an additional 34,546 shares during the period. Institutional investors and hedge funds own 21.30% of the company’s stock.

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.