VEON (NASDAQ:VEON) Downgraded to Strong Sell Rating by Zacks Research

VEON (NASDAQ:VEON) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Tuesday,Zacks.com reports.

Several other research firms also recently commented on VEON. Weiss Ratings downgraded VEON from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 18th. Benchmark reiterated a “buy” rating on shares of VEON in a research report on Monday. Rothschild & Co Redburn set a $74.00 price objective on VEON and gave the company a “buy” rating in a research report on Thursday, April 16th. Wall Street Zen downgraded VEON from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 26th. Finally, Northland Securities began coverage on VEON in a research report on Tuesday, June 9th. They issued an “outperform” rating and a $70.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, VEON currently has an average rating of “Moderate Buy” and a consensus price target of $72.00.

VEON Price Performance

VEON stock opened at $52.47 on Tuesday. The company has a debt-to-equity ratio of 2.15, a current ratio of 0.86 and a quick ratio of 0.85. The company has a market capitalization of $3.88 billion, a PE ratio of 7.03 and a beta of 1.63. VEON has a one year low of $38.08 and a one year high of $64.00. The business has a 50 day simple moving average of $52.66 and a 200 day simple moving average of $52.36.

VEON (NASDAQ:VEON) last posted its earnings results on Thursday, April 30th. The Wireless communications provider reported $1.50 EPS for the quarter. VEON had a return on equity of 44.43% and a net margin of 11.65%. On average, sell-side analysts forecast that VEON will post 6.99 EPS for the current fiscal year.

Institutional Investors Weigh In On VEON

Hedge funds and other institutional investors have recently made changes to their positions in the company. Osaic Holdings Inc. increased its stake in shares of VEON by 36.8% in the 2nd quarter. Osaic Holdings Inc. now owns 1,443 shares of the Wireless communications provider’s stock valued at $66,000 after buying an additional 388 shares during the period. Royal Bank of Canada increased its stake in shares of VEON by 184.3% in the 4th quarter. Royal Bank of Canada now owns 2,431 shares of the Wireless communications provider’s stock valued at $128,000 after buying an additional 1,576 shares during the period. Personal CFO Solutions LLC acquired a new stake in shares of VEON in the 3rd quarter valued at $208,000. Truist Financial Corp increased its stake in shares of VEON by 5.1% in the 4th quarter. Truist Financial Corp now owns 4,014 shares of the Wireless communications provider’s stock valued at $211,000 after buying an additional 195 shares during the period. Finally, CWM LLC acquired a new stake in shares of VEON in the 4th quarter valued at $219,000. 21.30% of the stock is owned by institutional investors and hedge funds.

VEON Company Profile

VEON Ltd (NASDAQ: VEON) is a global telecommunications and digital services provider headquartered in Amsterdam, the Netherlands. Originally founded as VimpelCom in Russia in 1992, the company rebranded to VEON in 2017 to reflect its transformation into a technology-driven operator. VEON operates as a holding company with direct investments in mobile and internet service providers across multiple emerging markets, delivering voice, data and digital services to individual and enterprise customers.

Through its operating subsidiaries, VEON offers a broad portfolio that includes 2G/3G/4G mobile access, fixed broadband, digital lifestyle applications and mobile financial services.