Canaccord Genuity Group Has Lowered Expectations for Zegona Communications (LON:ZEG) Stock Price

Zegona Communications (LON:ZEG) had its price objective lowered by research analysts at Canaccord Genuity Group from GBX 2,500 to GBX 2,450 in a research note issued to investors on Thursday, Digital Look reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 39.20% from the stock’s previous close.

Several other brokerages have also recently issued reports on ZEG. Berenberg Bank reiterated a “buy” rating and issued a GBX 2,300 price target on shares of Zegona Communications in a research note on Friday, September 4th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 2,200 price target on shares of Zegona Communications in a research report on Thursday, August 13th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of GBX 2,316.67.

Zegona Communications Stock Down 5.9%

ZEG stock opened at GBX 1,760 on Thursday. Zegona Communications has a fifty-two week low of GBX 1,145 and a fifty-two week high of GBX 1,962. The company has a debt-to-equity ratio of 592.64, a current ratio of 0.70 and a quick ratio of 6.23. The stock has a market capitalization of £3.97 billion, a price-to-earnings ratio of -58.67 and a beta of 3.41. The business’s fifty day moving average price is GBX 1,574.35 and its two-hundred day moving average price is GBX 1,674.23.

Insider Buying and Selling at Zegona Communications

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