VEON (NASDAQ:VEON) was upgraded by equities researchers at UBS Group from a “neutral” rating to a “buy” rating in a research note issued to investors on Thursday, The Fly reports. The firm presently has a $2.40 price objective on the Wireless communications provider’s stock. UBS Group’s price objective suggests a potential upside of 38.33% from the stock’s previous close.
Separately, Zacks Investment Research upgraded shares of VEON from a “sell” rating to a “hold” rating in a research report on Tuesday, May 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $1.98.
Shares of NASDAQ VEON traded up $0.07 during midday trading on Thursday, hitting $1.74. The stock had a trading volume of 178,322 shares, compared to its average volume of 4,751,484. The firm’s 50 day moving average is $1.77. The stock has a market cap of $3.03 billion, a P/E ratio of -9.13, a P/E/G ratio of 0.50 and a beta of 1.26. VEON has a 52 week low of $1.20 and a 52 week high of $1.90. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 7.47.
VEON (NASDAQ:VEON) last issued its quarterly earnings data on Thursday, April 29th. The Wireless communications provider reported $0.07 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.07. The company had revenue of $1.99 billion for the quarter. VEON had a negative net margin of 4.14% and a negative return on equity of 27.78%. Sell-side analysts expect that VEON will post 0.32 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Corient Capital Partners LLC raised its position in VEON by 48.6% in the first quarter. Corient Capital Partners LLC now owns 20,939 shares of the Wireless communications provider’s stock worth $37,000 after acquiring an additional 6,848 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in VEON by 37.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,231 shares of the Wireless communications provider’s stock worth $50,000 after acquiring an additional 7,617 shares during the period. Great West Life Assurance Co. Can raised its position in VEON by 137.1% in the first quarter. Great West Life Assurance Co. Can now owns 29,737 shares of the Wireless communications provider’s stock worth $52,000 after acquiring an additional 17,196 shares during the period. HRT Financial LP raised its position in VEON by 31.6% in the first quarter. HRT Financial LP now owns 37,748 shares of the Wireless communications provider’s stock worth $66,000 after acquiring an additional 9,072 shares during the period. Finally, Carolina Wealth Advisors LLC bought a new position in VEON in the first quarter worth approximately $67,000. Institutional investors and hedge funds own 19.41% of the company’s stock.
VEON Company Profile
VEON Ltd., through its subsidiaries, provides mobile and fixed-line telecommunications services. It offers voice, data, and other telecommunication services through a range of wireless, fixed, and broadband internet services. 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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