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

Several other analysts also recently weighed in on VEON. BidaskClub upgraded VEON from a sell rating to a hold rating in a research note on Friday, July 6th. Zacks Investment Research upgraded VEON from a sell rating to a hold rating in a research note on Thursday, June 21st. Bank of America downgraded VEON from a buy rating to a neutral rating in a research note on Thursday, June 21st. Finally, JPMorgan Chase & Co. upgraded VEON from a neutral rating to an overweight rating in a research note on Tuesday, July 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $3.50.

VEON stock traded down $0.02 during trading hours on Friday, hitting $2.75. 4,684,167 shares of the stock traded hands, compared to its average volume of 4,481,694. 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 company has a market cap of $5.09 billion, a PE ratio of 45.83 and a beta of 2.47. VEON has a 1 year low of $2.20 and a 1 year high of $4.14.

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

Institutional investors and hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its stake in shares of VEON by 85.8% in the second quarter. Tower Research Capital LLC TRC now owns 63,137 shares of the Wireless communications provider’s stock worth $150,000 after buying an additional 29,164 shares during the last quarter. UBS Group AG raised its holdings in VEON by 45.4% in the 1st quarter. UBS Group AG now owns 78,632 shares of the Wireless communications provider’s stock worth $208,000 after purchasing an additional 24,555 shares during the period. Cubist Systematic Strategies LLC raised its holdings in VEON by 108.2% in the 1st quarter. Cubist Systematic Strategies LLC now owns 94,584 shares of the Wireless communications provider’s stock worth $250,000 after purchasing an additional 49,161 shares during the period. Exane Derivatives raised its holdings in VEON by 933.9% in the 2nd quarter. Exane Derivatives now owns 110,708 shares of the Wireless communications provider’s stock worth $265,000 after purchasing an additional 100,000 shares during the period. Finally, BlackRock Inc. raised its holdings in VEON by 42.3% in the 1st quarter. BlackRock Inc. now owns 123,320 shares of the Wireless communications provider’s stock worth $326,000 after purchasing an additional 36,651 shares during the period. Hedge funds and other institutional investors own 15.24% of the company’s stock.

VEON Company Profile

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.

Recommended Story: Penny Stocks, Risk and Reward Factors

The Fly

Analyst Recommendations for VEON (NASDAQ:VEON)

Receive News & Ratings for VEON Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for VEON and related companies with MarketBeat.com's FREE daily email newsletter.