VEON (NASDAQ:VEON) Rating Lowered to Buy at Wall Street Zen

VEON (NASDAQ:VEON) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Saturday.

Several other equities research analysts also recently commented on VEON. Weiss Ratings reissued a “hold (c+)” rating on shares of VEON in a report on Wednesday, October 8th. Zacks Research cut shares of VEON from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $60.00.

VEON Trading Down 2.7%

VEON stock opened at $43.56 on Friday. The company has a market cap of $3.22 billion, a price-to-earnings ratio of 3.19 and a beta of 1.58. The firm has a 50-day moving average of $51.81 and a 200-day moving average of $50.79. 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 has a one year low of $30.20 and a one year high of $64.00.

VEON (NASDAQ:VEON) last released its earnings results on Thursday, August 7th. The Wireless communications provider reported $8.30 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.02 billion.

Hedge Funds Weigh In On VEON

Institutional investors and hedge funds have recently modified their holdings of the stock. Osaic Holdings Inc. raised its position in shares of VEON by 36.8% in the second 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 period. Samson Rock Capital LLP bought a new position in VEON in the 2nd quarter valued at about $138,000. Truist Financial Corp acquired a new stake in VEON during the third quarter worth approximately $208,000. Burns Matteson Capital Management LLC bought a new stake in shares of VEON during the third quarter worth approximately $211,000. Finally, Shilanski & Associates Inc. bought a new stake in shares of VEON during the third quarter worth approximately $214,000. 21.30% of the stock is currently owned by institutional investors and hedge funds.

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.