VEON (NASDAQ:VEON) Stock Rating Upgraded by Litchfield Hills Research

Litchfield Hills Research upgraded shares of VEON (NASDAQ:VEON - Free Report) to a strong-buy rating in a report released on Thursday,Zacks.com reports.

Several other research firms also recently issued reports on VEON. Wall Street Zen downgraded shares of VEON from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 21st. Benchmark reissued a "buy" rating and set a $60.00 price objective on shares of VEON in a report on Monday, June 16th.

VEON Trading Up 3.6%

NASDAQ VEON traded up $1.58 during trading hours on Thursday, hitting $46.07. 119,244 shares of the company's stock were exchanged, compared to its average volume of 107,862. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of 7.27 and a beta of 1.51. The stock has a 50-day simple moving average of $47.41 and a 200 day simple moving average of $44.51. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 2.17. VEON has a 1-year low of $25.48 and a 1-year high of $58.30.

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

Institutional Trading of VEON

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VEON. Rhumbline Advisers grew its holdings in shares of VEON by 300.0% in the fourth quarter. Rhumbline Advisers now owns 720 shares of the Wireless communications provider's stock valued at $29,000 after acquiring an additional 540 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of VEON in the fourth quarter valued at approximately $58,000. GAMMA Investing LLC grew its holdings in shares of VEON by 21.3% in the first quarter. GAMMA Investing LLC now owns 3,613 shares of the Wireless communications provider's stock valued at $158,000 after acquiring an additional 635 shares in the last quarter. BNP Paribas Financial Markets bought a new position in shares of VEON in the fourth quarter valued at approximately $163,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of VEON by 120.8% in the fourth quarter. JPMorgan Chase & Co. now owns 5,848 shares of the Wireless communications provider's stock valued at $235,000 after acquiring an additional 3,200 shares in the last quarter. 21.30% of the stock is owned by institutional investors.

About VEON

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.