VEON Ltd. (NASDAQ:VEON) Receives Average Rating of “Moderate Buy” from Brokerages

VEON Ltd. (NASDAQ:VEON) has received a consensus rating of “Moderate Buy” from the five analysts that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $72.00.

A number of analysts have recently issued reports on the company. Benchmark reiterated a “buy” rating on shares of VEON in a research report on Monday, June 15th. Northland Securities initiated coverage on shares of VEON in a report on Tuesday, June 9th. They issued an “outperform” rating and a $70.00 target price on the stock. Wall Street Zen upgraded VEON from a “hold” rating to a “buy” rating in a research note on Sunday, August 9th. Weiss Ratings restated a “hold (c)” rating on shares of VEON in a research report on Thursday, August 13th. Finally, Zacks Research upgraded VEON from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th.

Insider Activity at VEON

In other VEON news, Director Augie K. Fabela II purchased 15,000 shares of VEON stock in a transaction dated Thursday, August 6th. The shares were purchased at an average cost of $56.00 per share, for a total transaction of $840,000.00. Following the completion of the acquisition, the director owned 91,000 shares in the company, valued at $5,096,000. This represents a 19.74% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Institutional Trading of VEON

A number of large investors have recently modified their holdings of the company. Truist Financial Corp increased its position in 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 acquiring an additional 195 shares during the period. Tidal Investments LLC boosted its position in shares of VEON by 4.8% in the 2nd quarter. Tidal Investments LLC now owns 7,288 shares of the Wireless communications provider’s stock worth $336,000 after buying an additional 336 shares in the last quarter. Severin Investments LLC boosted its stake in shares of VEON by 4.2% during the 4th quarter. Severin Investments LLC now owns 8,857 shares of the Wireless communications provider’s stock worth $466,000 after purchasing an additional 353 shares during the last quarter. Osaic Holdings Inc. raised its holdings in 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 acquiring an additional 388 shares during the last quarter. Finally, RWC Asset Management LLP boosted its position in VEON by 1.1% during the 4th quarter. RWC Asset Management LLP now owns 38,040 shares of the Wireless communications provider’s stock worth $2,000,000 after purchasing an additional 422 shares during the period. Hedge funds and other institutional investors own 21.30% of the company’s stock.

VEON Price Performance

VEON stock opened at $56.09 on Wednesday. VEON has a 12-month low of $42.60 and a 12-month high of $64.00. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 2.30. The company’s fifty day simple moving average is $52.99 and its 200 day simple moving average is $52.55. The firm has a market cap of $4.15 billion, a price-to-earnings ratio of 65.99 and a beta of 1.65.

VEON (NASDAQ:VEON) last announced its earnings results on Friday, July 31st. The Wireless communications provider reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.23. VEON had a return on equity of 14.93% and a net margin of 1.24%.The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the previous year, the firm earned $8.30 earnings per share. On average, analysts expect that VEON will post 7.28 earnings per share for the current year.

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.