VEON Ltd. (NASDAQ:VEON) Given Average Rating of "Hold" by Brokerages

Key Points

• VEON currently has a consensus analyst rating of "Hold" from five covering firms, with an average 12-month price target of $72.00. The mix of ratings includes one sell, one hold, and three buy recommendations.
• Recent analyst actions have been mixed, including downgrades from Wall Street Zen and Zacks Research, while Rothschild & Co Redburn and Benchmark reiterated or issued buy ratings. Weiss Ratings also trimmed its rating slightly from hold (c+) to hold (c).
• The stock opened at $51.01, well below the analyst target, and VEON recently reported $1.50 EPS for the quarter. The company has a market cap of $3.77 billion and a relatively low P/E ratio of 6.84.

Shares of VEON Ltd. (NASDAQ:VEON - Get Free Report) have received a consensus rating of "Hold" from the five research firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $72.00.

Several analysts recently weighed in on the stock. Wall Street Zen downgraded shares of VEON from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, May 26th. Zacks Research cut shares of VEON from a "hold" rating to a "strong sell" rating in a research report on Tuesday, June 16th. Rothschild & Co Redburn set a $74.00 price target on VEON and gave the company a "buy" rating in a report on Thursday, April 16th. Benchmark reiterated a "buy" rating on shares of VEON in a research report on Monday, June 15th. Finally, Weiss Ratings lowered VEON from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, May 18th.

Hedge Funds Weigh In On VEON

Several hedge funds have recently made changes to their positions in the business. Shah Capital Management raised its holdings in shares of VEON by 1.5% in the 4th quarter. Shah Capital Management now owns 4,895,252 shares of the Wireless communications provider's stock worth $257,343,000 after purchasing an additional 70,831 shares in the last quarter. Pictet Asset Management Holding SA boosted its holdings in VEON by 77.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 225,643 shares of the Wireless communications provider's stock worth $11,862,000 after buying an additional 98,618 shares in the last quarter. JPMorgan Chase & Co. grew its position in VEON by 84.2% in the third quarter. JPMorgan Chase & Co. now owns 102,827 shares of the Wireless communications provider's stock worth $5,597,000 after buying an additional 47,000 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in VEON in the fourth quarter worth approximately $618,000. Finally, Lingotto Investment Management LLP increased its holdings in shares of VEON by 0.3% in the fourth quarter. Lingotto Investment Management LLP now owns 6,060,852 shares of the Wireless communications provider's stock valued at $318,619,000 after buying an additional 16,758 shares in the last quarter. Institutional investors and hedge funds own 21.30% of the company's stock.

VEON Price Performance

Shares of NASDAQ VEON opened at $51.01 on Friday. VEON has a 1-year low of $42.60 and a 1-year high of $64.00. The company has a debt-to-equity ratio of 2.15, a current ratio of 0.86 and a quick ratio of 0.85. The business's fifty day moving average price is $52.88 and its two-hundred day moving average price is $52.42. The firm has a market capitalization of $3.77 billion, a PE ratio of 6.84 and a beta of 1.64.

VEON (NASDAQ:VEON - Get Free Report) last announced its quarterly 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%. On average, research analysts expect that VEON will post 6.99 EPS for the current year.

VEON Company Profile

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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