VEON (NASDAQ:VEON) Receives “Buy” Rating from Benchmark

Benchmark restated their buy rating on shares of VEON (NASDAQ:VEON) in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a $60.00 price objective on the Wireless communications provider’s stock.

VEON Price Performance

VEON stock opened at $40.05 on Monday. VEON has a 52-week low of $25.38 and a 52-week high of $58.30. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 6.32 and a beta of 1.51. The company has a fifty day simple moving average of $47.36 and a 200-day simple moving average of $44.04. The company has a quick ratio of 0.78, a current ratio of 0.80 and a debt-to-equity ratio of 2.17.

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

Institutional Investors Weigh In On VEON

A number of hedge funds have recently modified their holdings of VEON. Rhumbline Advisers grew its holdings in shares of VEON by 300.0% in the fourth quarter. Rhumbline Advisers now owns 720 shares of the Wireless communications provider’s stock valued at $29,000 after purchasing an additional 540 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of VEON in the fourth quarter valued at about $58,000. GAMMA Investing LLC grew its holdings in shares of VEON by 21.3% in the first quarter. GAMMA Investing LLC now owns 3,613 shares of the Wireless communications provider’s stock valued at $158,000 after purchasing an additional 635 shares during the period. BNP Paribas Financial Markets purchased a new stake in shares of VEON in the fourth quarter valued at about $163,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of VEON by 120.8% in the fourth quarter. JPMorgan Chase & Co. now owns 5,848 shares of the Wireless communications provider’s stock valued at $235,000 after purchasing an additional 3,200 shares during the period. Hedge funds and other institutional investors 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.