Key Points
- VEON director Augie Fabela II bought 15,000 shares at $56 each, investing $840,000 and increasing his direct ownership by 19.74% to 91,000 shares.
- VEON reported quarterly EPS of $1.69, beating estimates by $0.23, while revenue of $1.27 billion also exceeded expectations. Shares opened at $55.90 and have traded between $42.60 and $64.00 over the past year.
- Analyst sentiment is moderately positive, with a consensus “Moderate Buy” rating and a $72 price target; institutional investors own 21.30% of the company.
VEON Ltd. (NASDAQ:VEON - Get Free Report) Director Augie Fabela II acquired 5,000 shares of the business's stock in a transaction dated Friday, August 7th. The shares were acquired at an average cost of $56.02 per share, with a total value of $280,100.00. Following the acquisition, the director directly owned 96,000 shares of the company's stock, valued at $5,377,920. This represents a 5.49% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
VEON Stock Down 2.1%
VEON stock opened at $55.90 on Tuesday. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 2.30. The company's 50 day moving average is $52.35 and its 200 day moving average is $52.44. The stock has a market cap of $4.13 billion, a price-to-earnings ratio of 65.76 and a beta of 1.65. VEON Ltd. has a 1-year low of $42.60 and a 1-year high of $64.00.
VEON (NASDAQ:VEON - Get Free Report) last announced its earnings results on Friday, July 31st. The Wireless communications provider reported $1.69 earnings per share for the quarter, beating analysts' consensus estimates of $1.46 by $0.23. VEON had a net margin of 1.24% and a return on equity of 14.93%. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period last year, the firm posted $8.30 earnings per share. Sell-side analysts predict that VEON Ltd. will post 7.28 EPS for the current fiscal year.
Institutional Investors Weigh In On VEON
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. grew its holdings in VEON by 36.8% in the 2nd quarter. Osaic Holdings Inc. now owns 1,443 shares of the Wireless communications provider's stock worth $66,000 after acquiring an additional 388 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of VEON by 184.3% during the fourth quarter. Royal Bank of Canada now owns 2,431 shares of the Wireless communications provider's stock worth $128,000 after purchasing an additional 1,576 shares during the period. Truist Financial Corp boosted its holdings in shares of VEON by 5.1% during the fourth quarter. Truist Financial Corp now owns 4,014 shares of the Wireless communications provider's stock worth $211,000 after purchasing an additional 195 shares during the period. Personal CFO Solutions LLC grew its stake in shares of VEON by 7.0% in the fourth quarter. Personal CFO Solutions LLC now owns 4,097 shares of the Wireless communications provider's stock worth $215,000 after purchasing an additional 268 shares during the last quarter. Finally, CWM LLC bought a new stake in shares of VEON in the fourth quarter worth about $219,000. 21.30% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on VEON shares. Wall Street Zen raised shares of VEON from a "hold" rating to a "buy" rating in a report on Sunday. Rothschild & Co Redburn set a $74.00 target price on VEON and gave the company a "buy" rating in a research note on Thursday, April 16th. Northland Securities assumed coverage on VEON in a research report on Tuesday, June 9th. They set an "outperform" rating and a $70.00 price target on the stock. Zacks Research raised VEON from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 4th. Finally, Benchmark reiterated a "buy" rating on shares of VEON in a report on Monday, June 15th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $72.00.
Get Our Latest Stock Analysis on VEON
About VEON
(
Get Free Report)
VEON Ltd (NASDAQ: VEON) is a global telecommunications and digital services provider headquartered in Amsterdam, the Netherlands. Originally founded as VimpelCom in Russia in 1992, the company rebranded to VEON in 2017 to reflect its transformation into a technology-driven operator. VEON operates as a holding company with direct investments in mobile and internet service providers across multiple emerging markets, delivering voice, data and digital services to individual and enterprise customers.
Through its operating subsidiaries, VEON offers a broad portfolio that includes 2G/3G/4G mobile access, fixed broadband, digital lifestyle applications and mobile financial services.
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