VimpelCom Ltd. (VIP) Rating Lowered to Sell at Zacks Investment Research
VimpelCom Ltd. (NASDAQ:VIP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday.
According to Zacks, “VimpelCom Ltd. is one of the world’s largest integrated telecommunications services operators. It offers a wide range of wireless, fixed, and broadband services in Russia, Ukraine, Kazakhstan, Uzbekistan, Tajikistan, Armenia, Georgia, Kyrgyzstan, Vietnam, Cambodia, Laos, Algeria, Bangladesh, Pakistan, Burundi, Zimbabwe, Central African Republic, Italy and Canada. VimpelCom provides services under the Beeline, Kyivstar, djuice, Wind, Infostrada Mobilink, Leo, Banglalink, Telecel, and Djezzy brands. VimpelCom Ltd. is headquartered in Amsterdam, the Netherlands. “
Other research analysts have also recently issued reports about the company. Citigroup Inc. raised VimpelCom from a “neutral” rating to a “buy” rating in a research report on Thursday, November 3rd. VTB Capital raised VimpelCom from a “hold” rating to a “buy” rating in a research report on Friday, September 16th. Renaissance Capital raised VimpelCom from a “hold” rating to a “buy” rating and reduced their price target for the company from $5.10 to $4.30 in a research report on Wednesday, September 14th. Bank of America Corp. set a $5.60 price target on VimpelCom and gave the company a “buy” rating in a research report on Monday, September 12th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $8.00 price target on shares of VimpelCom in a research report on Monday, November 7th. Two investment analysts have rated the stock with a sell rating and seven have assigned a buy rating to the stock. VimpelCom has a consensus rating of “Buy” and an average price target of $5.38.
Shares of VimpelCom (NASDAQ:VIP) opened at 3.30 on Friday. The firm has a market cap of $5.77 billion, a price-to-earnings ratio of 6.99 and a beta of 2.53. The stock’s 50 day moving average price is $3.30 and its 200 day moving average price is $3.74. VimpelCom has a one year low of $2.71 and a one year high of $4.51.
The company also recently announced a dividend, which will be paid on Wednesday, December 7th. Stockholders of record on Friday, November 18th will be paid a dividend of $0.026 per share. The ex-dividend date is Wednesday, November 16th.
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Several institutional investors have recently made changes to their positions in VIP. Wellington Management Group LLP raised its position in shares of VimpelCom by 30.8% in the first quarter. Wellington Management Group LLP now owns 2,092,345 shares of the company’s stock worth $8,913,000 after buying an additional 492,335 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of VimpelCom by 48.3% in the second quarter. BNP Paribas Arbitrage SA now owns 47,202 shares of the company’s stock worth $183,000 after buying an additional 15,381 shares during the period. Shah Capital Management raised its position in shares of VimpelCom by 16.2% in the second quarter. Shah Capital Management now owns 1,030,510 shares of the company’s stock worth $3,998,000 after buying an additional 143,515 shares during the period. Deprince Race & Zollo Inc. purchased a new position in shares of VimpelCom during the second quarter worth $2,577,000. Finally, Commerzbank Aktiengesellschaft FI raised its position in shares of VimpelCom by 22.0% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 208,670 shares of the company’s stock worth $810,000 after buying an additional 37,664 shares during the period. Institutional investors own 9.95% of the company’s stock.
VimpelCom Ltd. is an international communications and technology company. The Company provides voice and data services through a range of traditional and broadband mobile and fixed-line technologies and operates in Russia, Algeria, Pakistan, Bangladesh, Ukraine, Kazakhstan, Uzbekistan, Kyrgyzstan, Armenia, Tajikistan, Georgia, Laos, Zimbabwe and Italy.
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