VEON (NASDAQ:VEON) Issues Earnings Results

Key Points

• VEON reported strong quarterly earnings with $8.30 EPS, significantly surpassing analysts' expectations of $0.95 EPS, and generated revenue of $1.09 billion against a consensus estimate of $1.02 billion.
• Following the earnings report, VEON's stock increased by 5.1%, reaching $56.20, with a market capitalization of $4.16 billion.
• Research analysts have increasingly favored VEON, with Litchfield Hills Research upgrading the stock to a "strong-buy" rating and Benchmark maintaining a "buy" rating with a price target of $60.00.

VEON (NASDAQ:VEON - Get Free Report) posted its quarterly earnings results on Thursday. The Wireless communications provider reported $8.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $7.35, Zacks reports. VEON had a return on equity of 75.40% and a net margin of 23.75%. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.02 billion. VEON updated its FY 2025 guidance to EPS.

VEON Stock Up 5.1%

Shares of NASDAQ VEON traded up $2.73 on Friday, hitting $56.20. The company had a trading volume of 273,505 shares, compared to its average volume of 252,796. VEON has a 12-month low of $25.92 and a 12-month high of $59.68. The business has a 50 day moving average of $48.00 and a two-hundred day moving average of $46.21. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 2.17. The firm has a market capitalization of $4.16 billion, a P/E ratio of 4.12 and a beta of 1.50.

Analyst Ratings Changes

A number of equities research analysts have issued reports on VEON shares. Litchfield Hills Research raised VEON to a "strong-buy" rating in a research report on Thursday, June 26th. Benchmark reissued a "buy" rating and set a $60.00 price target on shares of VEON in a research report on Monday, June 16th. Finally, Wall Street Zen raised VEON from a "buy" rating to a "strong-buy" rating in a research report on Sunday, June 29th.

Institutional Investors Weigh In On VEON

Institutional investors and hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC purchased a new stake in shares of VEON in the first quarter worth about $400,000. Jane Street Group LLC boosted its position in shares of VEON by 177.9% in the first quarter. Jane Street Group LLC now owns 16,374 shares of the Wireless communications provider's stock worth $714,000 after buying an additional 10,483 shares during the period. Finally, Jones Financial Companies Lllp boosted its position in shares of VEON by 84,690.0% in the first quarter. Jones Financial Companies Lllp now owns 16,958 shares of the Wireless communications provider's stock worth $740,000 after buying an additional 16,938 shares during the period. Hedge funds and other institutional investors own 21.30% of the company's stock.

VEON Company Profile

VEON Ltd., a digital operator, provides connectivity and internet services in Pakistan, Ukraine, Kazakhstan, Bangladesh, Uzbekistan, and Kyrgyzstan. It offers mobile telecommunications services, including value added and call completion, national and international roaming, wireless Internet access, mobile financial, and mobile bundle services; data connectivity, cross border transit, voice, Internet, and data services; fixed-line telecommunications using intercity fiber optic networks; and Internet-TV using Fiber to the building technology.

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