VEON (NASDAQ:VEON) Upgraded to Strong-Buy at Litchfield Hills Research

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

Several other research firms have also recently weighed in on VEON. Benchmark reiterated a "buy" rating and issued a $60.00 target price on shares of VEON in a research note on Monday, June 16th. Wall Street Zen cut shares of VEON from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 21st.

VEON Stock Performance

Shares of VEON stock traded down $0.37 during trading on Thursday, reaching $44.49. The company had a trading volume of 140,280 shares, compared to its average volume of 107,136. The firm's 50 day simple moving average is $47.33 and its two-hundred day simple moving average is $44.27. VEON has a one year low of $25.45 and a one year high of $58.30. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.81 and a quick ratio of 0.80. The company has a market capitalization of $3.29 billion, a PE ratio of 7.02 and a beta of 1.51.

VEON (NASDAQ:VEON - Get Free Report) last released its earnings results on Thursday, May 15th. The Wireless communications provider reported $1.36 earnings per share for the quarter, topping 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 firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $996.00 million.

Institutional Investors Weigh In On VEON

A number of large investors have recently bought and sold shares of the business. Rhumbline Advisers increased 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 purchasing an additional 540 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of VEON in the 4th quarter valued at $58,000. GAMMA Investing LLC increased 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 worth $158,000 after acquiring an additional 635 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in VEON during the 4th quarter worth approximately $163,000. Finally, JPMorgan Chase & Co. increased its position in shares of VEON by 120.8% during the fourth quarter. JPMorgan Chase & Co. now owns 5,848 shares of the Wireless communications provider's stock worth $235,000 after acquiring an additional 3,200 shares in the last quarter. 21.30% of the stock is currently 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.