VEON (NASDAQ:VEON – Get Free Report) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.
Other equities research analysts have also recently issued reports about the stock. Rothschild & Co Redburn set a $74.00 price objective on shares of VEON and gave the stock a “buy” rating in a report on Thursday, April 16th. Benchmark reissued a “buy” rating on shares of VEON in a research report on Friday, March 13th. Wall Street Zen raised shares of VEON from a “buy” rating to a “strong-buy” rating in a report on Monday. Finally, Weiss Ratings cut shares of VEON from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, VEON has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.
View Our Latest Research Report on VEON
VEON Price Performance
VEON (NASDAQ:VEON – Get Free Report) last announced its earnings results on Thursday, April 30th. The Wireless communications provider reported $1.50 earnings per share (EPS) for the quarter. VEON had a net margin of 11.65% and a return on equity of 44.43%. As a group, equities analysts anticipate that VEON will post 8.56 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of VEON. Panview Capital Ltd bought a new stake in shares of VEON during the 3rd quarter worth about $22,481,000. Wellington Management Group LLP lifted its holdings in VEON by 66.5% during the 4th 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 acquired a new stake in shares of VEON during the third quarter worth $15,005,000. Pictet Asset Management Holding SA lifted its stake in VEON by 77.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 225,643 shares of the Wireless communications provider’s stock valued at $11,862,000 after buying an additional 98,618 shares during the period. Finally, Millennium Management LLC grew its stake in shares of VEON by 275.3% in the 3rd quarter. Millennium Management LLC now owns 133,478 shares of the Wireless communications provider’s stock valued at $7,265,000 after buying an additional 97,913 shares during the period. 21.30% of the stock is currently owned by institutional investors and hedge funds.
About VEON
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.
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