Brokerages Set VEON Ltd. (NASDAQ:VEON) PT at $72.00

Shares of VEON Ltd. (NASDAQ:VEON) have been given a consensus recommendation of “Hold” by the five analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $72.00.

VEON has been the topic of a number of recent analyst reports. Benchmark reaffirmed a “buy” rating on shares of VEON in a research report on Monday, June 15th. Rothschild & Co Redburn set a $74.00 price target on shares of VEON and gave the company a “buy” rating in a research report on Thursday, April 16th. Zacks Research downgraded shares of VEON from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 16th. Northland Securities initiated coverage on shares of VEON in a research note on Tuesday, June 9th. They issued an “outperform” rating and a $70.00 price target on the stock. Finally, Wall Street Zen lowered shares of VEON from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 26th.

VEON Price Performance

NASDAQ:VEON opened at $51.70 on Friday. VEON has a 52 week low of $42.60 and a 52 week high of $64.00. The stock’s fifty day moving average is $52.82 and its two-hundred day moving average is $52.41. The company has a market capitalization of $3.82 billion, a P/E ratio of 6.93 and a beta of 1.64. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 2.15.

VEON (NASDAQ:VEON) last released its quarterly earnings results on Thursday, April 30th. The Wireless communications provider reported $1.50 earnings per share for the quarter. VEON had a return on equity of 44.43% and a net margin of 11.65%. Equities analysts expect that VEON will post 6.99 EPS for the current year.

Institutional Trading of VEON

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in shares of VEON by 66.5% during the fourth quarter. Wellington Management Group LLP now owns 977,400 shares of the Wireless communications provider’s stock worth $51,382,000 after buying an additional 390,294 shares during the period. Mackenzie Financial Corp purchased a new stake in shares of VEON in the 3rd quarter valued at $15,005,000. Panview Capital Ltd lifted its stake in VEON by 24.7% during the 4th quarter. Panview Capital Ltd now owns 514,927 shares of the Wireless communications provider’s stock worth $27,070,000 after acquiring an additional 101,906 shares in the last quarter. Pictet Asset Management Holding SA lifted its stake in VEON by 77.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 225,643 shares of the Wireless communications provider’s stock worth $11,862,000 after acquiring an additional 98,618 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in VEON by 275.3% during the 3rd quarter. Millennium Management LLC now owns 133,478 shares of the Wireless communications provider’s stock valued at $7,265,000 after acquiring an additional 97,913 shares during the period. Hedge funds and other institutional investors own 21.30% of the company’s stock.

VEON Company Profile

VEON Ltd (NASDAQ: VEON) is a global telecommunications and digital services provider headquartered in Amsterdam, the Netherlands. Originally founded as VimpelCom in Russia in 1992, the company rebranded to VEON in 2017 to reflect its transformation into a technology-driven operator. VEON operates as a holding company with direct investments in mobile and internet service providers across multiple emerging markets, delivering voice, data and digital services to individual and enterprise customers.

Through its operating subsidiaries, VEON offers a broad portfolio that includes 2G/3G/4G mobile access, fixed broadband, digital lifestyle applications and mobile financial services.