Berenberg Bank Reaffirms “Buy” Rating for Zegona Communications (LON:ZEG)

Zegona Communications (LON:ZEG)‘s stock had its “buy” rating reaffirmed by stock analysts at Berenberg Bank in a report released on Thursday, September 24th, MarketBeat reports. They presently have a GBX 2,300 target price on the stock. Berenberg Bank’s price objective suggests a potential upside of 32.34% from the stock’s current price.

Other analysts have also recently issued reports about the company. Canaccord Genuity Group cut their price objective on Zegona Communications from GBX 2,500 to GBX 2,450 and set a “buy” rating for the company in a research report on Thursday, September 17th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 2,200 target price on shares of Zegona Communications in a report on Thursday, August 13th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of GBX 2,316.67.

Zegona Communications Stock Performance

Zegona Communications stock traded down GBX 14 during midday trading on Thursday, reaching GBX 1,738. 783,308 shares of the company’s stock were exchanged, compared to its average volume of 2,694,630. Zegona Communications has a 52 week low of GBX 1,145 and a 52 week 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. The firm has a market cap of £3.92 billion, a price-to-earnings ratio of -57.93 and a beta of 3.41. The stock’s 50-day simple moving average is GBX 1,613.83 and its 200 day simple moving average is GBX 1,674.36.

Insiders Place Their Bets

In related news, insider Timothy Pennington acquired 6,588 shares of the business’s stock in a transaction on Wednesday, August 5th. The stock was purchased at an average cost of GBX 15 per share, for a total transaction of £988.20. 41.82% of the stock is currently owned by corporate insiders.

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.