Zacks Research Downgrades VEON (NASDAQ:VEON) to Hold

Key Points

• Zacks Research downgraded VEON from a "strong-buy" to a "hold" rating, reflecting a shift in analysts' sentiment toward the stock.
• VEON's shares opened at $50.72 and have seen a decline of 1.4%, with a market capitalization of $3.75 billion.
• The company reported earnings per share of $8.30, significantly exceeding analysts' expectations, indicating strong financial performance.

VEON (NASDAQ:VEON - Get Free Report) was downgraded by research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other analysts have also recently commented on the stock. Litchfield Hills Research raised shares of VEON to a "strong-buy" rating in a research note on Thursday, June 26th. Weiss Ratings restated a "hold (c+)" rating on shares of VEON in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of VEON from a "buy" rating to a "strong-buy" rating in a report on Sunday, June 29th. One 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 currently has a consensus rating of "Moderate Buy" and an average target price of $60.00.

VEON Stock Down 1.4%

Shares of VEON opened at $50.72 on Tuesday. The company has a 50-day simple moving average of $54.45 and a 200-day simple moving average of $50.04. The firm has a market capitalization of $3.75 billion, a P/E ratio of 3.72 and a beta of 1.58. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.87 and a current ratio of 0.87. VEON has a 52 week low of $29.80 and a 52 week high of $64.00.

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

Institutional Investors Weigh In On VEON

A number of hedge funds and other institutional investors have recently made changes to their positions in VEON. Wellington Management Group LLP raised its holdings in shares of VEON by 22.3% during the first quarter. Wellington Management Group LLP now owns 647,096 shares of the Wireless communications provider's stock worth $28,220,000 after acquiring an additional 117,945 shares during the period. Lingotto Investment Management LLP raised its holdings in shares of VEON by 1.2% during the second quarter. Lingotto Investment Management LLP now owns 5,957,666 shares of the Wireless communications provider's stock worth $274,470,000 after acquiring an additional 70,659 shares during the period. Cubist Systematic Strategies LLC raised its holdings in shares of VEON by 783.6% during the first quarter. Cubist Systematic Strategies LLC now owns 53,936 shares of the Wireless communications provider's stock worth $2,352,000 after acquiring an additional 47,832 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of VEON by 267.0% during the second quarter. JPMorgan Chase & Co. now owns 55,827 shares of the Wireless communications provider's stock worth $2,572,000 after acquiring an additional 40,614 shares during the period. Finally, SBI Securities Co. Ltd. raised its holdings in shares of 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 worth $1,569,000 after acquiring an additional 34,546 shares during the period. 21.30% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.