Zegona Communications (LON:ZEG) Reaches New 12-Month High – Should You Buy?

Zegona Communications plc (LON:ZEG) shares reached a new 52-week high on Monday . The stock traded as high as GBX 1,485 and last traded at GBX 1,463.28, with a volume of 1147070 shares traded. The stock had previously closed at GBX 1,443.97.

Analyst Ratings Changes

ZEG has been the subject of several recent research reports. Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 1,500 target price on shares of Zegona Communications in a report on Wednesday, November 26th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 1,350 target price on shares of Zegona Communications in a research report on Tuesday, November 25th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Zegona Communications presently has an average rating of “Buy” and a consensus price target of GBX 1,466.67.

Zegona Communications Stock Performance

The stock has a market capitalization of £10.63 billion, a P/E ratio of 127.27 and a beta of 2.80. The business has a 50 day simple moving average of GBX 1,295.74 and a 200-day simple moving average of GBX 1,077.39.

Zegona Communications announced that its board has approved a stock repurchase plan on Friday, December 12th that allows the company to buyback 0 shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Zegona Communications Company Profile

Zegona is a British company investing strategically across the Europe with the objective of acquiring businesses in the European TMT sector, using a “Buy-Fix-Sell” strategy to deliver attractive shareholder returns.

The first acquisition made by Zegona was of Asturian telecommunications operator Telecable in 2015.