Kyivstar Group (NASDAQ:KYIV) Stock Price Up 6.8% - Here's What Happened

Key Points

• Kyivstar Group shares rose 6.8% to approximately $13.54 in mid-day trading, although volume was 35% below the stock’s average daily level.
• Analyst sentiment remains positive overall, with a consensus rating of “Moderate Buy” and an average price target of $16.62; three analysts rate the stock Buy and two rate it Hold.
• The company reported quarterly EPS of $0.33, slightly below the $0.35 consensus estimate, on revenue of $334.66 million. Several institutional investors, including State Street and Renaissance Technologies, recently initiated positions.

Shares of Kyivstar Group (NASDAQ:KYIV - Get Free Report) rose 6.8% on Wednesday. The company traded as high as $13.27 and last traded at $13.5380. 421,789 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 644,776 shares. The stock had previously closed at $12.68.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of Kyivstar Group in a research report on Wednesday, August 5th. Benchmark reiterated a "buy" rating on shares of Kyivstar Group in a research report on Tuesday, August 4th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $16.62.

Kyivstar Group Stock Performance

The business's fifty day moving average price is $13.06 and its two-hundred day moving average price is $13.35. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.25 and a current ratio of 1.26. The stock has a market capitalization of $3.13 billion, a P/E ratio of 20.54, a P/E/G ratio of 1.25 and a beta of 2.14.

Kyivstar Group (NASDAQ:KYIV - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.02). Kyivstar Group had a return on equity of 24.71% and a net margin of 12.73%. The company had revenue of $334.66 million during the quarter. As a group, sell-side analysts forecast that Kyivstar Group will post 1.42 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp acquired a new position in Kyivstar Group during the 2nd quarter valued at about $1,962,000. WINTON GROUP Ltd acquired a new stake in shares of Kyivstar Group during the second quarter worth $163,000. Rangeley Capital LLC acquired a new stake in shares of Kyivstar Group during the first quarter worth $101,000. Renaissance Technologies LLC acquired a new position in shares of Kyivstar Group in the 1st quarter valued at $820,000. Finally, Yorkville Advisors Global LP acquired a new position in shares of Kyivstar Group in the 1st quarter valued at $551,000.

Kyivstar Group Company Profile

Kyivstar Group Ltd. is a telecommunications company focused primarily on providing connectivity and digital services in Ukraine. Through its Kyivstar brand, the company offers mobile voice and data services, messaging, broadband internet, television and other communications products for consumer and business customers.

The company also provides enterprise telecommunications and digital solutions, including connectivity, cloud-related services and other technology offerings designed to support organizations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.