VEON (VEON) Downgraded to Sell at BidaskClub

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BidaskClub downgraded shares of VEON (NASDAQ:VEON) from a hold rating to a sell rating in a report issued on Thursday morning.

Other equities research analysts also recently issued research reports about the stock. HSBC upgraded shares of VEON from a hold rating to a buy rating in a research note on Monday, August 20th. Zacks Investment Research upgraded shares of VEON from a sell rating to a buy rating and set a $3.00 price target on the stock in a research note on Wednesday, August 22nd. Finally, Goldman Sachs Group downgraded shares of VEON from a buy rating to a neutral rating in a research note on Friday, October 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $3.50.

VEON traded down $0.08 during trading on Thursday, reaching $2.82. 3,177,918 shares of the company’s stock were exchanged, compared to its average volume of 4,274,254. VEON has a fifty-two week low of $2.20 and a fifty-two week high of $4.14. The company has a debt-to-equity ratio of 3.02, a current ratio of 0.97 and a quick ratio of 0.94. The company has a market capitalization of $4.99 billion, a P/E ratio of 47.00 and a beta of 2.08.

Several large investors have recently modified their holdings of the company. Fosun International Ltd acquired a new stake in shares of VEON in the 3rd quarter valued at $1,916,000. Commonwealth Bank of Australia boosted its stake in shares of VEON by 4.5% in the 3rd quarter. Commonwealth Bank of Australia now owns 2,452,491 shares of the Wireless communications provider’s stock valued at $7,109,000 after purchasing an additional 105,000 shares in the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of VEON in the 3rd quarter valued at $3,302,000. Exor Investments UK LLP boosted its stake in shares of VEON by 3.8% in the 3rd quarter. Exor Investments UK LLP now owns 37,657,792 shares of the Wireless communications provider’s stock valued at $109,208,000 after purchasing an additional 1,390,000 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of VEON by 85.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 63,137 shares of the Wireless communications provider’s stock valued at $150,000 after purchasing an additional 29,164 shares in the last quarter. Institutional investors own 15.21% of the company’s stock.

About VEON

VEON Ltd., through its subsidiaries, provides mobile and fixed-line telecommunications services. It offers voice and data telecommunication services through a range of traditional and broadband mobile and fixed line technologies. The company provides mobile telecommunications services under contract and prepaid plans for corporate and consumer segments; value added services, including short messages, multimedia messages, caller number identification, call waiting, data transmission, mobile Internet, downloadable content, mobile finance, machine-to-machine, and other services; national and international roaming services; and mobile bundles.

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