Benchmark Begins Coverage on VEON (NASDAQ:VEON)

Stock analysts at Benchmark initiated coverage on shares of VEON (NASDAQ:VEON) in a note issued to investors on Tuesday, MarketBeat.com reports. The brokerage set a “buy” rating and a $48.00 price target on the Wireless communications provider’s stock. Benchmark’s target price would suggest a potential upside of 42.73% from the stock’s previous close.

Separately, StockNews.com raised VEON from a “buy” rating to a “strong-buy” rating in a report on Monday, August 5th.

VEON Trading Up 0.9 %

VEON opened at $33.63 on Tuesday. VEON has a 1 year low of $17.72 and a 1 year high of $34.00. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 2.66. The business’s 50-day moving average is $30.32 and its two-hundred day moving average is $27.74.

VEON (NASDAQ:VEON) last issued its quarterly earnings results on Friday, August 30th. The Wireless communications provider reported $1.00 earnings per share (EPS) for the quarter. VEON had a positive return on equity of 28.73% and a negative net margin of 77.48%. The business had revenue of $1.03 billion for the quarter.

Institutional Investors Weigh In On VEON

Hedge funds and other institutional investors have recently made changes to their positions in the company. Helikon Investments Ltd grew its position in VEON by 8.1% during the second quarter. Helikon Investments Ltd now owns 2,739,275 shares of the Wireless communications provider’s stock valued at $71,057,000 after buying an additional 206,200 shares during the period. Lingotto Investment Management LLP increased its position in shares of VEON by 1.0% in the second quarter. Lingotto Investment Management LLP now owns 5,387,582 shares of the Wireless communications provider’s stock valued at $139,754,000 after buying an additional 53,807 shares in the last quarter. Samson Rock Capital LLP purchased a new position in shares of VEON during the 3rd quarter valued at approximately $913,000. Citigroup Inc. increased its holdings in VEON by 13.4% in the 3rd quarter. Citigroup Inc. now owns 248,758 shares of the Wireless communications provider’s stock worth $7,567,000 after acquiring an additional 29,350 shares in the last quarter. Finally, Gabelli Funds LLC raised its position in VEON by 18.8% during the first quarter. Gabelli Funds LLC now owns 129,496 shares of the Wireless communications provider’s stock worth $3,109,000 after acquiring an additional 20,456 shares during the period. Institutional investors and hedge funds own 21.30% of the company’s stock.

About VEON

VEON Ltd., a digital operator, provides connectivity and internet services in Pakistan, Ukraine, Kazakhstan, Bangladesh, Uzbekistan, and Kyrgyzstan. It offers mobile telecommunications services, including value added and call completion, national and international roaming, wireless Internet access, mobile financial, and mobile bundle services; data connectivity, cross border transit, voice, Internet, and data services; fixed-line telecommunications using intercity fiber optic networks; and Internet-TV using Fiber to the building technology.