Zegona Communications (LON:ZEG) Earns Buy Rating from Berenberg Bank

Zegona Communications (LON:ZEG)‘s stock had its “buy” rating reiterated by analysts at Berenberg Bank in a report issued on Friday, 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 41.63% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 2,200 price target on shares of Zegona Communications in a report on Thursday, August 13th. Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 2,500 price target on shares of Zegona Communications in a report on Wednesday, July 15th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of GBX 2,333.33.

Zegona Communications Stock Up 1.2%

Zegona Communications stock opened at GBX 1,624 on Friday. The stock’s 50 day moving average price is GBX 1,536.70 and its 200 day moving average price is GBX 1,677.19. The company has a market cap of £3.66 billion, a PE ratio of -54.13 and a beta of 3.41. The company has a debt-to-equity ratio of 592.64, a current ratio of 0.70 and a quick ratio of 6.23. Zegona Communications has a 1-year low of GBX 1,135.50 and a 1-year high of GBX 1,962.

Insider Buying and Selling

In other Zegona Communications news, insider Suzi Williams purchased 1,632 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was bought at an average price of GBX 1,716 per share, with a total value of £28,005.12. Also, insider Timothy Pennington purchased 6,588 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were bought at an average price of GBX 15 per share, for a total transaction of £988.20. Insiders own 41.81% 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.