According to Zacks, “VEON Ltd. is engaged in telecommunication and digital services. It provides customers with voice, fixed broadband, data and digital services. The company’s brand portfolio includes Beeline, Kyivstar, WIND, Jazz, Banglalink and Djezzy. It operates primarily in Russia, Italy, Algeria, Pakistan, Uzbekistan, Kazakhstan, Ukraine, Bangladesh, Kyrgyzstan, Tajikistan, Armenia, Georgia and Laos. VEON Ltd, formerly known as VimpelCom Ltd., is headquartered in Amsterdam, Netherland. “
A number of other research firms also recently weighed in on VEON. ValuEngine raised VEON from a “hold” rating to a “buy” rating in a research report on Tuesday. BidaskClub raised VEON from a “hold” rating to a “buy” rating in a research report on Friday, May 10th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $3.27.
VEON (NASDAQ:VEON) last posted its quarterly earnings data on Thursday, May 2nd. The Wireless communications provider reported $0.08 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.02. The firm had revenue of $2.12 billion for the quarter. VEON had a net margin of 10.00% and a negative return on equity of 17.37%. Equities research analysts expect that VEON will post 0.49 EPS for the current year.
A number of hedge funds have recently modified their holdings of the stock. Marshall Wace North America L.P. raised its position in shares of VEON by 2,866.4% in the 1st quarter. Marshall Wace North America L.P. now owns 1,042,217 shares of the Wireless communications provider’s stock worth $2,178,000 after acquiring an additional 1,007,083 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of VEON by 20.6% during the first quarter. Nordea Investment Management AB now owns 962,000 shares of the Wireless communications provider’s stock valued at $2,011,000 after buying an additional 164,000 shares during the period. FMR LLC boosted its position in shares of VEON by 8.6% during the first 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 period. Pentwater Capital Management LP purchased a new position in shares of VEON during the first quarter valued at approximately $732,000. Finally, Morgan Stanley boosted its position in shares of VEON by 27.5% during the first quarter. Morgan Stanley now owns 31,574,797 shares of the Wireless communications provider’s stock valued at $65,991,000 after buying an additional 6,801,713 shares during the period. Institutional investors own 19.62% of the company’s stock.
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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