VEON (NASDAQ:VEON) Stock Rating Upgraded by Zacks Research

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

Several other research analysts have also commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of VEON in a research report on Monday, December 29th. Wall Street Zen raised VEON from a “hold” rating to a “buy” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, VEON has a consensus rating of “Moderate Buy” and an average target price of $60.00.

VEON Price Performance

VEON stock opened at $52.04 on Thursday. VEON has a 52-week low of $34.55 and a 52-week high of $64.00. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 2.45. The firm’s fifty day moving average is $50.92 and its 200 day moving average is $51.83. The company has a market cap of $3.59 billion, a price-to-earnings ratio of 5.91 and a beta of 1.59.

VEON (NASDAQ:VEON) last issued its quarterly earnings data on Monday, November 10th. The Wireless communications provider reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.07). The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. VEON had a return on equity of 58.72% and a net margin of 15.26%.

VEON declared that its Board of Directors has approved a stock repurchase plan on Monday, November 17th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the Wireless communications provider to purchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Osaic Holdings Inc. grew its stake in shares of VEON by 36.8% during the second 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 last quarter. Samson Rock Capital LLP bought a new stake in shares of VEON during the 2nd quarter worth approximately $138,000. Truist Financial Corp purchased a new position in VEON during the 3rd quarter valued at $208,000. Personal CFO Solutions LLC bought a new position in VEON in the 3rd quarter valued at $208,000. Finally, Burns Matteson Capital Management LLC purchased a new stake in VEON in the third quarter worth $211,000. Hedge funds and other institutional investors own 21.30% of the company’s stock.

About VEON

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.