VEON Ltd. (NASDAQ:VEON – Get Free Report) has received a consensus recommendation of “Moderate Buy” from the five analysts that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $72.00.
A number of analysts have recently weighed in on VEON shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of VEON in a research report on Thursday, August 13th. Benchmark restated a “buy” rating on shares of VEON in a research note on Monday, June 15th. Zacks Research raised VEON from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Northland Securities assumed coverage on VEON in a research note on Tuesday, June 9th. They set an “outperform” rating and a $70.00 price objective for the company. Finally, Wall Street Zen downgraded VEON from a “strong-buy” rating to a “buy” rating in a report on Sunday.
View Our Latest Stock Report on VEON
VEON Stock Performance
VEON (NASDAQ:VEON – Get Free Report) last released its quarterly earnings results on Friday, July 31st. The Wireless communications provider reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.23. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.23 billion. VEON had a return on equity of 14.93% and a net margin of 1.24%.During the same period in the previous year, the company posted $8.30 earnings per share. On average, analysts anticipate that VEON will post 7.39 EPS for the current fiscal year.
Insider Buying and Selling at VEON
In related news, Director K II purchased 15,000 shares of the stock in a transaction dated Thursday, August 6th. The stock was purchased at an average price of $56.00 per share, with a total value of $840,000.00. Following the transaction, the director directly owned 91,000 shares in the company, valued at $5,096,000. This trade represents a 19.74% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Institutional Investors Weigh In On VEON
A number of institutional investors have recently made changes to their positions in VEON. Lingotto Investment Management LLP lifted its position in VEON by 0.3% in the 4th quarter. Lingotto Investment Management LLP now owns 6,060,852 shares of the Wireless communications provider’s stock valued at $318,619,000 after acquiring an additional 16,758 shares in the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new position in VEON during the 4th quarter valued at about $1,293,000. K2 Principal Fund L.P. purchased a new stake in shares of VEON during the 4th quarter valued at about $1,015,000. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of VEON by 82.2% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 29,518 shares of the Wireless communications provider’s stock valued at $1,541,000 after acquiring an additional 13,315 shares during the last quarter. Finally, Dorsey Wright & Associates boosted its holdings in shares of VEON by 45.7% during the 1st quarter. Dorsey Wright & Associates now owns 35,457 shares of the Wireless communications provider’s stock valued at $1,642,000 after acquiring an additional 11,129 shares during the last quarter. Hedge funds and other institutional investors own 21.30% of the company’s stock.
About VEON
VEON Ltd. (NASDAQ:VEON) is a global digital communications and services company that provides mobile connectivity, broadband, and digital products in high-growth markets. Its telecommunications operations serve consumers and businesses through mobile voice and data services, messaging, fixed broadband, and related connectivity solutions.
VEON operates through well-known local brands, including Kyivstar in Ukraine, Jazz in Pakistan, Banglalink in Bangladesh, and Beeline in Kazakhstan, Kyrgyzstan, and Uzbekistan.
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