VEON (VEON) Downgraded by Goldman Sachs Group to Neutral

Goldman Sachs Group cut shares of VEON (NASDAQ:VEON) from a buy rating to a neutral rating in a research note released on Friday, The Fly reports.

Other equities research analysts have also issued reports about the company. Zacks Investment Research raised VEON from a sell rating to a hold rating in a research report on Thursday, June 21st. BidaskClub lowered VEON from a hold rating to a sell rating in a research report on Tuesday, July 17th. HSBC raised VEON from a hold rating to a buy rating in a research report on Monday, August 20th. JPMorgan Chase & Co. raised VEON from a neutral rating to an overweight rating in a research report on Tuesday, July 3rd. Finally, Bank of America lowered VEON from a buy rating to a neutral rating in a research report on Thursday, June 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $3.50.

Shares of VEON stock traded down $0.02 on Friday, reaching $2.75. 4,684,167 shares of the company’s stock were exchanged, compared to its average volume of 4,481,694. VEON has a 52 week low of $2.20 and a 52 week high of $4.14. The company has a debt-to-equity ratio of 3.02, a quick ratio of 0.94 and a current ratio of 0.97. The firm has a market capitalization of $5.09 billion, a P/E ratio of 45.83 and a beta of 2.47.

VEON (NASDAQ:VEON) last issued its quarterly earnings results on Thursday, August 2nd. The Wireless communications provider reported $0.02 earnings per share (EPS) for the quarter. VEON had a negative return on equity of 8.79% and a negative net margin of 5.38%. The firm had revenue of $2.27 billion during the quarter. As a group, sell-side analysts forecast that VEON will post 0.19 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of VEON. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of VEON by 44.6% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 60,741,135 shares of the Wireless communications provider’s stock worth $144,564,000 after acquiring an additional 18,748,194 shares in the last quarter. Exor Investments UK LLP raised its position 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 worth $109,208,000 after acquiring an additional 1,390,000 shares in the last quarter. Morgan Stanley raised its position in shares of VEON by 9.2% in the 2nd quarter. Morgan Stanley now owns 19,187,951 shares of the Wireless communications provider’s stock worth $45,667,000 after acquiring an additional 1,608,650 shares in the last quarter. First Trust Advisors LP bought a new position in shares of VEON in the 2nd quarter worth $11,313,000. Finally, Millennium Management LLC raised its position in shares of VEON by 119.6% in the 1st quarter. Millennium Management LLC now owns 2,940,200 shares of the Wireless communications provider’s stock worth $7,762,000 after acquiring an additional 1,601,588 shares in the last quarter. 15.24% of the stock is owned by institutional investors and hedge funds.

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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