VEON (NASDAQ:VEON) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen lowered shares of VEON (NASDAQ:VEON) from a buy rating to a hold rating in a research report report published on Saturday morning.

A number of other research analysts have also commented on VEON. Weiss Ratings restated a “hold (c)” rating on shares of VEON in a research note on Thursday, November 13th. Zacks Research downgraded VEON from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, VEON has an average rating of “Moderate Buy” and an average price target of $60.00.

VEON Stock Performance

Shares of NASDAQ VEON opened at $52.53 on Friday. The business’s 50-day moving average price is $50.72 and its two-hundred day moving average price is $51.08. VEON has a one year low of $30.37 and a one year high of $64.00. The company has a market capitalization of $3.89 billion, a P/E ratio of 3.85 and a beta of 1.58. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.87 and a quick ratio of 0.87.

VEON (NASDAQ:VEON) last posted its earnings results on Monday, November 10th. The Wireless communications provider reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.07). VEON had a return on equity of 72.76% and a net margin of 23.75%.The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. VEON has set its FY 2025 guidance at EPS.

VEON declared that its Board of Directors has initiated a stock buyback plan on Monday, November 17th that allows the company to repurchase 0 shares. This repurchase authorization allows the Wireless communications provider to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On VEON

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC boosted its holdings in VEON by 4.8% in the second quarter. Tidal Investments LLC now owns 7,288 shares of the Wireless communications provider’s stock valued at $336,000 after acquiring an additional 336 shares during the last quarter. Osaic Holdings Inc. boosted its stake in shares of 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 purchasing an additional 388 shares during the last quarter. Bank of America Corp DE grew its position in shares of VEON by 1.0% during the 2nd quarter. Bank of America Corp DE now owns 53,571 shares of the Wireless communications provider’s stock worth $2,468,000 after buying an additional 538 shares during the period. Handelsbanken Fonder AB lifted its holdings in VEON by 36.2% in the third quarter. Handelsbanken Fonder AB now owns 7,900 shares of the Wireless communications provider’s stock valued at $430,000 after buying an additional 2,100 shares during the period. Finally, Lingohr Asset Management GmbH boosted its stake in VEON by 39.5% in the third quarter. Lingohr Asset Management GmbH now owns 9,312 shares of the Wireless communications provider’s stock valued at $507,000 after acquiring an additional 2,638 shares during the last quarter. 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.