BidaskClub Lowers VEON (NASDAQ:VEON) to Sell

BidaskClub downgraded shares of VEON (NASDAQ:VEON) from a hold rating to a sell rating in a report released on Thursday morning, BidAskClub reports.

Several other equities analysts also recently issued reports on the company. Zacks Investment Research downgraded VEON from a hold rating to a sell rating in a research report on Friday, September 13th. Bank of America upgraded VEON from a neutral rating to a buy rating and set a $3.17 target price for the company in a research report on Tuesday, July 9th. UBS Group upgraded VEON from a neutral rating to a buy rating and set a $3.00 target price for the company in a research report on Monday, June 17th. TheStreet upgraded VEON from a d+ rating to a c- rating in a research report on Thursday, July 11th. Finally, ValuEngine upgraded VEON from a hold rating to a buy rating in a research report on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $3.19.

Shares of NASDAQ VEON opened at $2.41 on Thursday. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 2.60. The stock has a 50 day simple moving average of $2.62 and a 200-day simple moving average of $2.55. The company has a market cap of $4.22 billion, a PE ratio of -10.48 and a beta of 1.87. VEON has a 12-month low of $2.07 and a 12-month high of $3.28.

VEON (NASDAQ:VEON) last issued its quarterly earnings data on Thursday, August 1st. The Wireless communications provider reported $0.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.05). The business had revenue of $2.26 billion for the quarter. VEON had a negative return on equity of 15.89% and a net margin of 12.37%. Sell-side analysts forecast that VEON will post 0.36 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. lifted its position in VEON by 623.3% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 187,563 shares of the Wireless communications provider’s stock worth $525,000 after purchasing an additional 161,630 shares during the period. KBC Group NV lifted its position in VEON by 102.4% in the second quarter. KBC Group NV now owns 3,245,942 shares of the Wireless communications provider’s stock worth $9,089,000 after purchasing an additional 1,642,129 shares during the period. TT International acquired a new stake in VEON in the second quarter worth approximately $64,410,000. First Trust Advisors LP lifted its position in VEON by 63.2% in the second quarter. First Trust Advisors LP now owns 88,012 shares of the Wireless communications provider’s stock worth $246,000 after purchasing an additional 34,092 shares during the period. Finally, Allianz Asset Management GmbH lifted its position in VEON by 19.2% in the second quarter. Allianz Asset Management GmbH now owns 654,709 shares of the Wireless communications provider’s stock worth $1,833,000 after purchasing an additional 105,464 shares during the period. Hedge funds and other institutional investors own 17.72% of the company’s stock.

About VEON

VEON Ltd., through its subsidiaries, provides mobile and fixed-line telecommunications services. It offers voice and data telecommunication services through a range of mobile and fixed-line technologies. The company provides value added services, including short messages, multimedia messages, caller number identification, call waiting, data transmission, mobile internet, downloadable content, mobile finance services, machine-to-machine, and other services; national and international roaming services; wireless Internet access and mobile financial services; and mobile bundles and call completion services.

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Analyst Recommendations for VEON (NASDAQ:VEON)

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