VEON (NASDAQ:VEON) Rating Lowered to Buy at Wall Street Zen

VEON (NASDAQ:VEON - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a note issued to investors on Saturday.

Separately, Benchmark restated a "buy" rating and issued a $60.00 price objective on shares of VEON in a report on Monday, June 16th.

VEON Trading Down 0.1%

Shares of VEON stock traded down $0.05 during trading hours on Friday, reaching $40.00. The company's stock had a trading volume of 257,159 shares, compared to its average volume of 103,373. The company has a current ratio of 0.80, a quick ratio of 0.78 and a debt-to-equity ratio of 2.17. VEON has a one year low of $25.38 and a one year high of $58.30. The stock has a market capitalization of $2.96 billion, a P/E ratio of 6.31 and a beta of 1.51. The firm's fifty day simple moving average is $47.37 and its 200 day simple moving average is $44.05.

VEON (NASDAQ:VEON - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The Wireless communications provider reported $1.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.53. VEON had a net margin of 11.18% and a return on equity of 36.24%. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $996.00 million.

Hedge Funds Weigh In On VEON

Institutional investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in shares of VEON in the 4th quarter worth about $58,000. GAMMA Investing LLC boosted its stake in VEON by 5,190.9% during the first quarter. GAMMA Investing LLC now owns 157,563 shares of the Wireless communications provider's stock worth $6,871,000 after acquiring an additional 154,585 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in VEON in the fourth quarter worth about $163,000. Cyrus Capital Partners L.P. bought a new position in shares of VEON during the fourth quarter valued at approximately $2,994,000. Finally, Bank of America Corp DE lifted its holdings in shares of VEON by 33.6% during the fourth quarter. Bank of America Corp DE now owns 26,468 shares of the Wireless communications provider's stock valued at $1,061,000 after purchasing an additional 6,659 shares during the last quarter. 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.