Is VEON (VEON) Stock Undervalued Right Now?

While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.

Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.

On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today.

One stock to keep an eye on is VEON (VEON). VEON is currently holding a Zacks Rank #2 (Buy) and a Value grade of A. The stock is trading with a P/E ratio of 6.62, which compares to its industry's average of 16.44. Over the past year, VEON's Forward P/E has been as high as 10.57 and as low as 6.13, with a median of 8.78.

Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. This is a preferred metric because revenue can't really be manipulated, so sales are often a truer performance indicator. VEON has a P/S ratio of 0.88. This compares to its industry's average P/S of 1.3.

Value investors will likely look at more than just these metrics, but the above data helps show that VEON is likely undervalued currently. And when considering the strength of its earnings outlook, VEON sticks out as one of the market's strongest value stocks.

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This article originally published on Zacks Investment Research (zacks.com).

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