VEON (NASDAQ:VEON) Stock Rating Lowered by BidaskClub

BidaskClub lowered shares of VEON (NASDAQ:VEON) from a hold rating to a sell rating in a research note published on Tuesday morning, BidAskClub reports.

A number of other brokerages have also issued reports on VEON. TheStreet upgraded VEON from a d+ rating to a c- rating in a research note on Thursday, July 11th. Goldman Sachs Group upgraded VEON from a neutral rating to a buy rating and raised their target price for the stock from $3.40 to $4.00 in a research note on Thursday, July 11th. UBS Group upgraded VEON from a neutral rating to a buy rating and set a $3.00 target price for the company in a research note on Monday, June 17th. Zacks Investment Research restated a sell rating on shares of VEON in a research note on Saturday, October 5th. Finally, Bank of America upgraded VEON from a neutral rating to a buy rating and set a $3.17 target price for the company in a research note on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. VEON has an average rating of Hold and a consensus target price of $3.19.

Shares of VEON opened at $2.43 on Tuesday. VEON has a 12 month low of $2.07 and a 12 month high of $3.28. The stock has a fifty day moving average price of $2.47 and a 200-day moving average price of $2.54. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 2.60. The firm has a market cap of $4.27 billion, a PE ratio of -10.57 and a beta of 1.82.

VEON (NASDAQ:VEON) last issued its earnings results on Thursday, August 1st. The Wireless communications provider reported $0.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.05). The firm had revenue of $2.26 billion during the quarter. VEON had a negative return on equity of 15.89% and a net margin of 12.37%. As a group, research analysts forecast that VEON will post 0.36 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. GABELLI & Co INVESTMENT ADVISERS INC. grew its position 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 purchasing an additional 6,000 shares during the period. Corient Capital Partners LLC grew its position 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 purchasing an additional 6,085 shares during the period. Skandinaviska Enskilda Banken AB publ grew its position in VEON by 3.0% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 258,615 shares of the Wireless communications provider’s stock worth $724,000 after purchasing an additional 7,450 shares during the period. UBS Group AG grew its position in VEON by 0.4% during the 2nd quarter. UBS Group AG now owns 2,417,781 shares of the Wireless communications provider’s stock worth $6,770,000 after purchasing an additional 9,365 shares during the period. Finally, Mackenzie Financial Corp acquired a new stake in VEON during the 2nd quarter worth about $34,000. 17.79% of the stock is currently owned by institutional investors.

VEON Company Profile

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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Analyst Recommendations for VEON (NASDAQ:VEON)

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