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

Zegona Communications (LON:ZEG)‘s stock had its “buy” rating reaffirmed by analysts at Berenberg Bank in a research report issued on Monday,London Stock Exchange reports. They currently have a GBX 2,300 price objective on the stock. Berenberg Bank’s price target would suggest a potential upside of 30.90% from the stock’s previous close.

Zegona Communications Trading Down 1.4%

Shares of ZEG traded down GBX 25 during trading hours on Monday, reaching GBX 1,757. 204,347 shares of the company traded hands, compared to its average volume of 2,454,461. The company’s fifty day moving average price is GBX 1,783.08 and its two-hundred day moving average price is GBX 1,642.98. The company has a market capitalization of £3.97 billion, a price-to-earnings ratio of 159.73 and a beta of 3.42. The company has a quick ratio of 6.23, a current ratio of 0.58 and a debt-to-equity ratio of 608.59. Zegona Communications has a 12 month low of GBX 678 and a 12 month high of GBX 1,962.

About Zegona Communications

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.