VEON (NASDAQ:VEON) Coverage Initiated by Analysts at Benchmark

Benchmark initiated coverage on shares of VEON (NASDAQ:VEON) in a research note released on Tuesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $48.00 price objective on the Wireless communications provider’s stock.

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

VEON Price Performance

Shares of VEON opened at $33.34 on Tuesday. VEON has a one year low of $17.11 and a one year high of $34.00. The stock has a 50-day moving average of $30.18 and a 200-day moving average of $27.67. The company has a debt-to-equity ratio of 2.66, a quick ratio of 0.76 and a current ratio of 0.77.

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

Hedge Funds Weigh In On VEON

A number of hedge funds have recently bought and sold shares of the company. Helikon Investments Ltd boosted its holdings 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 worth $71,057,000 after purchasing an additional 206,200 shares during the last quarter. Lingotto Investment Management LLP boosted its stake in shares of VEON by 1.0% in the 2nd quarter. Lingotto Investment Management LLP now owns 5,387,582 shares of the Wireless communications provider’s stock worth $139,754,000 after buying an additional 53,807 shares during the last quarter. Samson Rock Capital LLP bought a new position in shares of VEON in the third quarter valued at approximately $913,000. Citigroup Inc. increased its position in shares of VEON by 13.4% during the third quarter. Citigroup Inc. now owns 248,758 shares of the Wireless communications provider’s stock valued at $7,567,000 after acquiring an additional 29,350 shares during the last quarter. Finally, Gabelli Funds LLC lifted its holdings 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. 21.30% of the stock is owned by hedge funds and other institutional investors.

VEON Company Profile

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.