Shares of VEON Ltd. (NASDAQ:VEON - Get Free Report) reached a new 52-week high on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $51.67 and last traded at $48.95, with a volume of 205992 shares changing hands. The stock had previously closed at $51.25.
The Wireless communications provider reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.53. VEON had a negative net margin of 81.71% and a positive return on equity of 36.48%. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $996.00 million.
Analysts Set New Price Targets
Separately, Benchmark lifted their price objective on VEON from $56.00 to $60.00 and gave the stock a "buy" rating in a report on Tuesday, March 25th.
Get Our Latest Stock Analysis on VEON
Institutional Investors Weigh In On VEON
Institutional investors and hedge funds have recently made changes to their positions in the company. Rhumbline Advisers boosted its holdings in shares of VEON by 300.0% in the 4th quarter. Rhumbline Advisers now owns 720 shares of the Wireless communications provider's stock worth $29,000 after acquiring an additional 540 shares in the last quarter. GAMMA Investing LLC raised its position in VEON by 21.3% in the 1st quarter. GAMMA Investing LLC now owns 3,613 shares of the Wireless communications provider's stock valued at $158,000 after purchasing an additional 635 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in VEON by 100.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,440 shares of the Wireless communications provider's stock worth $58,000 after purchasing an additional 720 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in VEON by 41.5% in the third quarter. JPMorgan Chase & Co. now owns 2,648 shares of the Wireless communications provider's stock worth $81,000 after purchasing an additional 776 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of VEON by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 43,322 shares of the Wireless communications provider's stock worth $1,737,000 after purchasing an additional 1,254 shares during the last quarter. Institutional investors and hedge funds own 21.30% of the company's stock.
VEON Stock Performance
The stock has a 50 day moving average price of $44.24 and a two-hundred day moving average price of $41.27. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.81 and a quick ratio of 0.80. The company has a market capitalization of $4.05 billion, a price-to-earnings ratio of 8.63 and a beta of 1.43.
About VEON
(
Get Free Report)
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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