Zacks Investment Research Reaffirms Hold Rating for VEON (NASDAQ:VEON)

Zacks Investment Research reaffirmed their hold rating on shares of VEON (NASDAQ:VEON) in a research report report published on Saturday, Zacks.com reports.

According to Zacks, “VEON Ltd. is engaged in telecommunication and digital services. It provides customers with voice, fixed broadband, data and digital services. The company’s brand portfolio includes Beeline, Kyivstar, WIND, Jazz, Banglalink and Djezzy. It operates primarily in Russia, Italy, Algeria, Pakistan, Uzbekistan, Kazakhstan, Ukraine, Bangladesh, Kyrgyzstan, Tajikistan, Armenia, Georgia and Laos. VEON Ltd, formerly known as VimpelCom Ltd., is headquartered in Amsterdam, Netherland. “

Several other research firms have also recently weighed in on VEON. ValuEngine cut shares of VEON from a buy rating to a hold rating in a research report on Tuesday, October 1st. Goldman Sachs Group upgraded shares of VEON from a neutral rating to a buy rating and raised their price objective for the company from $3.40 to $4.00 in a research report on Thursday, July 11th. Bank of America upgraded shares of VEON from a neutral rating to a buy rating and set a $3.17 price objective for the company in a research report on Tuesday, July 9th. BidaskClub lowered shares of VEON from a hold rating to a sell rating in a research note on Tuesday, October 8th. Finally, Sberbank CIB lowered shares of VEON from a buy rating to a hold rating in a research note on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. VEON currently has a consensus rating of Hold and a consensus target price of $3.19.

Shares of VEON stock opened at $2.41 on Friday. The stock has a market capitalization of $4.16 billion, a P/E ratio of -10.48 and a beta of 1.82. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 2.60. The company has a 50-day simple moving average of $2.42 and a 200 day simple moving average of $2.55. VEON has a 12-month low of $2.07 and a 12-month high of $3.28.

VEON (NASDAQ:VEON) last announced its earnings results on Thursday, August 1st. The Wireless communications provider reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.05). The firm 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%. On average, equities analysts anticipate that VEON will post 0.36 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Mackenzie Financial Corp bought a new position in shares of VEON in the 2nd quarter valued at about $34,000. Corient Capital Partners LLC boosted its stake in VEON by 56.9% during the 2nd quarter. Corient Capital Partners LLC now owns 16,788 shares of the Wireless communications provider’s stock worth $47,000 after acquiring an additional 6,085 shares during the last quarter. M&T Bank Corp bought a new position in VEON during the 2nd quarter worth approximately $72,000. GABELLI & Co INVESTMENT ADVISERS INC. boosted its stake in VEON by 27.3% during the 2nd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 28,000 shares of the Wireless communications provider’s stock worth $78,000 after acquiring an additional 6,000 shares during the last quarter. Finally, Valmark Advisers Inc. bought a new position in VEON during the 2nd quarter worth approximately $80,000. 17.83% of the stock is currently owned by institutional investors.

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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