BidaskClub Upgrades VEON (NASDAQ:VEON) to Buy

BidaskClub upgraded shares of VEON (NASDAQ:VEON) from a hold rating to a buy rating in a research note published on Friday, May 10th, BidAskClub reports.

VEON has been the topic of several other research reports. VTB Capital cut VEON from a buy rating to a hold rating and set a $2.80 price objective on the stock. in a research report on Wednesday, January 16th. ValuEngine cut VEON from a buy rating to a hold rating in a research report on Wednesday, January 30th. Finally, Zacks Investment Research raised VEON from a sell rating to a hold rating in a research report on Saturday, March 9th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $3.27.

Shares of NASDAQ VEON traded up $0.02 during midday trading on Friday, hitting $2.51. 6,239,605 shares of the stock traded hands, compared to its average volume of 5,014,783. VEON has a one year low of $2.07 and a one year high of $3.14. The company has a market cap of $4.41 billion, a price-to-earnings ratio of -10.91 and a beta of 1.83.

VEON (NASDAQ:VEON) last announced its quarterly earnings results on Thursday, May 2nd. The Wireless communications provider reported $0.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.02. VEON had a negative return on equity of 17.37% and a net margin of 10.00%. The business had revenue of $2.12 billion during the quarter. On average, equities analysts expect that VEON will post 0.49 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC lifted its position in shares of VEON by 8.6% during the 1st quarter. FMR LLC now owns 219,193 shares of the Wireless communications provider’s stock valued at $458,000 after buying an additional 17,387 shares during the last quarter. Pentwater Capital Management LP bought a new stake in shares of VEON during the 1st quarter valued at $732,000. Morgan Stanley raised its stake in shares of VEON by 27.5% during the 1st quarter. Morgan Stanley now owns 31,574,797 shares of the Wireless communications provider’s stock valued at $65,991,000 after purchasing an additional 6,801,713 shares during the period. Macquarie Group Ltd. raised its stake in shares of VEON by 50.5% during the 1st quarter. Macquarie Group Ltd. now owns 9,761,241 shares of the Wireless communications provider’s stock valued at $20,401,000 after purchasing an additional 3,273,314 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of VEON by 2.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,376,067 shares of the Wireless communications provider’s stock valued at $2,876,000 after purchasing an additional 37,750 shares during the period. 17.57% of the stock is currently owned by hedge funds and other 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.

Further Reading: What are Bollinger Bands?

Analyst Recommendations for VEON (NASDAQ:VEON)

Receive News & Ratings for VEON Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for VEON and related companies with MarketBeat.com's FREE daily email newsletter.