Wall Street Zen upgraded shares of VEON (NASDAQ:VEON – Free Report) from a hold rating to a buy rating in a research report released on Sunday morning.
Other equities analysts have also issued reports about the stock. Weiss Ratings lowered shares of VEON from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 18th. Rothschild & Co Redburn set a $74.00 price objective on shares of VEON and gave the company a “buy” rating in a report on Thursday, April 16th. Northland Securities started coverage on shares of VEON in a research note on Tuesday, June 9th. They issued an “outperform” rating and a $70.00 price objective on the stock. Benchmark reissued a “buy” rating on shares of VEON in a report on Monday, June 15th. Finally, Zacks Research upgraded shares of VEON from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $72.00.
VEON Stock Performance
VEON (NASDAQ:VEON – Get Free Report) last posted 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. VEON had a return on equity of 14.93% and a net margin of 1.24%.The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the previous year, the business earned $8.30 EPS. As a group, research analysts predict that VEON will post 7.28 EPS for the current year.
Institutional Investors Weigh In On VEON
Hedge funds have recently modified their holdings of the company. Lingotto Investment Management LLP increased its stake in shares of 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 purchasing an additional 16,758 shares in the last quarter. Wellington Management Group LLP boosted its position in 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 purchasing an additional 390,294 shares in the last quarter. Solus Alternative Asset Management LP boosted its position in VEON by 3.6% during the fourth quarter. Solus Alternative Asset Management LP now owns 887,002 shares of the Wireless communications provider’s stock worth $46,630,000 after purchasing an additional 30,900 shares in the last quarter. Panview Capital Ltd grew its holdings in VEON by 24.7% in the fourth quarter. Panview Capital Ltd now owns 514,927 shares of the Wireless communications provider’s stock valued at $27,070,000 after purchasing an additional 101,906 shares during the period. Finally, Two Sigma Investments LP grew its holdings in VEON by 31.5% in the third quarter. Two Sigma Investments LP now owns 276,426 shares of the Wireless communications provider’s stock valued at $15,046,000 after purchasing an additional 66,153 shares during the period. 21.30% of the stock is owned by hedge funds and other institutional investors.
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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