Weiss Ratings Reaffirms "Hold (C+)" Rating for VEON (NASDAQ:VEON)

Key Points

• Weiss Ratings has reiterated a "Hold (C+)" rating for VEON, reflecting caution amid mixed analyst opinions, with some upgrading the stock to "strong-buy."
• VEON reported $8.30 earnings per share for its most recent quarter, surpassing the consensus estimate of $0.95, alongside a revenue of $1.09 billion.
• Significant institutional investment shifts occurred in VEON, with hedge funds increasing their holdings by substantial percentages, indicating growing interest in the stock.

VEON (NASDAQ:VEON - Get Free Report)'s stock had its "hold (c+)" rating reiterated by research analysts at Weiss Ratings in a report released on Friday,Weiss Ratings reports.

A number of other brokerages have also commented on VEON. Litchfield Hills Research upgraded shares of VEON to a "strong-buy" rating in a research note on Thursday, June 26th. Zacks Research lowered shares of VEON from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. Finally, Wall Street Zen upgraded shares of VEON from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, VEON presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.00.

VEON Trading Down 0.2%

Shares of NASDAQ:VEON traded down $0.08 during mid-day trading on Friday, hitting $50.51. The company had a trading volume of 59,273 shares, compared to its average volume of 102,895. The firm has a fifty day moving average price of $54.14 and a 200 day moving average price of $50.21. The company has a market capitalization of $3.74 billion, a PE ratio of 3.71 and a beta of 1.58. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.87 and a quick ratio of 0.87. VEON has a one year low of $29.80 and a one year high of $64.00.

VEON (NASDAQ:VEON - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The Wireless communications provider reported $8.30 earnings per share for the quarter, beating the consensus estimate of $0.95 by $7.35. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.02 billion. VEON had a net margin of 23.75% and a return on equity of 72.76%. VEON has set its FY 2025 guidance at EPS.

Hedge Funds Weigh In On VEON

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in VEON by 21.3% during the first 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. Cubist Systematic Strategies LLC lifted its holdings in VEON by 783.6% during the first quarter. Cubist Systematic Strategies LLC now owns 53,936 shares of the Wireless communications provider's stock valued at $2,352,000 after purchasing an additional 47,832 shares during the last quarter. Jump Financial LLC purchased a new stake in VEON during the first quarter valued at about $493,000. SBI Securities Co. Ltd. lifted its holdings in VEON by 2,404.0% during the first quarter. SBI Securities Co. Ltd. now owns 35,983 shares of the Wireless communications provider's stock valued at $1,569,000 after purchasing an additional 34,546 shares during the last quarter. Finally, Allianz SE purchased a new stake in VEON during the first quarter valued at about $888,000. 21.30% of the stock is owned by hedge funds and other institutional investors.

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.

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