It is Poised to be a Bull Market for VEON Ltd. (VEON)

VEON Ltd. (NASDAQ: VEON) stock jumped 2.73% on Tuesday to $0.56 against a previous-day closing price of $0.55. With 0.71 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.17 million shares. During the session, the Telecom Services company that operates in wider Communication Services sector, reached to the highest price of $0.5650 whereas the lowest price it dropped to was $0.5404. The 52-week range on VEON shows that it touched its highest point at $1.57 and its lowest point at $0.24 during that stretch. Beta for the stock currently stands at 1.74.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of VEON was down-trending over the past week, with a drop of -1.74%, but this was up by 25.56% over a month. Three-month performance surged to 66.23% while six-month performance rose 25.58%. The stock lost -60.21% in the past year, while it has gained 15.31% so far this year.

Float and Shares Shorts:

At present, 1.75 billion VEON shares are outstanding with a float of 762.55 million shares on hand for trading. On Dec 29, 2022, short shares totaled 0.99 million, which was 0.06% higher than short shares on Nov 29, 2022. In addition to Mr. Muhterem Kaan Terzioglu as the firm’s Group Chief Exec. Officer, Mr. Serkan Sabri Okandan serves as its Group Chief Financial Officer.

Institutional Ownership:

Through their ownership of 18.63% of VEON’s outstanding shares, institutional investors have minority control over the company. Other institutions hold — of VEON, in contrast to — held by mutual funds. Shares owned by individuals account for –. With a 1.07% stake in VEON, the BNP Paribas Funds – Russia Equity is the largest stakeholder. A total of 18,793,495 shares are owned by the mutual fund manager. The Kopernik International Fund, which owns about 0.91% of VEON stock, is the second-largest Mutual Fund holder. It holds 16,018,241 shares valued at 7.85 million. RBC Emerging Markets Dividend Fun holds 0.38% of the stake in VEON, owning 6,595,800 shares worth 3.23 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2022, VEON reported revenue of $2.01B and operating income of $406.00M. Over the past year, revenue came in at $7.89B while operating income stood at $1.06B. It generated $136.00M net income for the quarter, which came to $439.00M over the last twelve months. The EBITDA in the recently reported quarter was $908.00M and diluted EPS was $0.08. EBITDA for the full year was $3.98B.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for VEON since 1 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With VEON analysts setting a high price target of $2.55 and a low target of $2.55, the average target price over the next 12 months is $2.55. Based on these targets, VEON could surge 355.36% to reach the target high and rise by 355.36% to reach the target low. Reaching the average price target will result in a growth of 355.36% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. VEON will report FY 2022 earnings on 02/26/2024. Analysts have provided yearly estimates in a range of $0.38 being high and $0.38 being low. For VEON, this leads to a yearly average estimate of $0.38. Based on analyst estimates, the high estimate for the next quarter is $0.09 and the low estimate is $0.09. The average estimate for the next quarter is thus $0.09.

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