Share Repurchase Program Authorized by VEON (NASDAQ:VEON) Board

VEON (NASDAQ:VEON) announced that its board has authorized a stock repurchase plan on Monday, November 17th, RTT News reports. The company plans to repurchase 0 outstanding shares. This repurchase authorization authorizes the Wireless communications provider to purchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on VEON shares. Zacks Research cut VEON from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of VEON in a research report on Thursday. Finally, Wall Street Zen cut VEON from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, VEON currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.00.

VEON Price Performance

Shares of VEON stock opened at $48.56 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.57. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 3.56 and a beta of 1.58. VEON has a twelve month low of $30.20 and a twelve month high of $64.00. The company has a 50-day simple moving average of $50.86 and a two-hundred day simple moving average of $50.95.

VEON (NASDAQ:VEON) last announced its earnings results on Monday, November 10th. The Wireless communications provider reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.07). The business 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 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.