Zegona Communications (LON:ZEG) Given “Buy” Rating at Berenberg Bank

Zegona Communications (LON:ZEG)‘s stock had its “buy” rating reiterated by research analysts at Berenberg Bank in a research note issued on Thursday, London Stock Exchange reports. They currently have a GBX 2,300 price objective on the stock. Berenberg Bank’s target price suggests a potential upside of 34.35% from the stock’s current price.

A number of other research firms have also recently weighed in on ZEG. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 2,200 price objective on shares of Zegona Communications in a research report on Thursday, August 13th. Canaccord Genuity Group cut their target price on Zegona Communications from GBX 2,500 to GBX 2,450 and set a “buy” rating on the stock in a research report on Thursday, September 17th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Zegona Communications has an average rating of “Buy” and a consensus price target of GBX 2,316.67.

Zegona Communications Price Performance

Zegona Communications stock opened at GBX 1,712 on Thursday. The company’s 50 day simple moving average is GBX 1,591.23 and its 200-day simple moving average is GBX 1,675.30. The company has a market capitalization of £3.86 billion, a price-to-earnings ratio of -57.07 and a beta of 3.41. Zegona Communications has a 1 year low of GBX 1,145 and a 1 year high of GBX 1,962. The company has a debt-to-equity ratio of 619.81, a quick ratio of 6.23 and a current ratio of 0.69.

Insider Activity at Zegona Communications

In other news, insider Suzi Williams acquired 1,632 shares of the company’s stock in a transaction on Monday, June 29th. The shares were bought at an average cost of GBX 1,716 per share, with a total value of £28,005.12. Also, insider Timothy Pennington bought 6,588 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was acquired at an average cost of GBX 15 per share, for a total transaction of £988.20. Insiders own 41.82% of the company’s stock.

Zegona Communications Company Profile

Zegona is publicly listed on the Main Market of the LSE. It was established in 2015 with the objective of investing in businesses in the European Telecommunications, Media and Technology sector and improving their performance to deliver attractive shareholder returns. Zegona is led by former Virgin Media executives Eamonn O’Hare and Robert Samuelson.

In 2024, Zegona completed the acquisition of Vodafone Spain. Vodafone Spain is one of the leading telecoms networks in Spain but following shifts in customer sentiment, Zegona believes the future of the business lies in right-sizing the cost and capex base in the business to the local market context, operating the assets more efficiently and driving value for money service propositions.