Wall Street Zen Upgrades VEON (NASDAQ:VEON) to "Strong-Buy"

VEON (NASDAQ:VEON - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued on Sunday.

A number of other equities analysts also recently issued reports on VEON. Benchmark reissued a "buy" rating and issued a $60.00 price objective on shares of VEON in a report on Monday, June 16th. Litchfield Hills Research raised shares of VEON to a "strong-buy" rating in a report on Thursday.

VEON Stock Performance

Shares of NASDAQ VEON opened at $44.49 on Friday. The firm's 50-day moving average price is $47.33 and its 200-day moving average price is $44.39. 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 company has a market cap of $3.29 billion, a PE ratio of 7.02 and a beta of 1.51. VEON has a 52-week low of $25.48 and a 52-week high of $58.30.

VEON (NASDAQ:VEON - Get Free Report) last announced its quarterly earnings results 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. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $996.00 million. VEON had a net margin of 11.18% and a return on equity of 36.24%.

Hedge Funds Weigh In On VEON

Institutional investors and hedge funds have recently made changes to their positions in the business. SBI Securities Co. Ltd. purchased a new position in shares of VEON in the fourth quarter worth approximately $58,000. GAMMA Investing LLC raised its stake in VEON by 5,190.9% during the 1st 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 during the period. BNP Paribas Financial Markets bought a new stake in VEON during the 4th quarter worth approximately $163,000. Cyrus Capital Partners L.P. bought a new stake in VEON during the 4th quarter worth approximately $2,994,000. Finally, Bank of America Corp DE raised its stake in VEON by 33.6% during the 4th quarter. Bank of America Corp DE now owns 26,468 shares of the Wireless communications provider's stock worth $1,061,000 after acquiring an additional 6,659 shares during the period. Hedge funds and other institutional investors own 21.30% of the company's stock.

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.

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