Zegona Communications’ (ZEG) “Buy” Rating Reiterated at Berenberg Bank

Berenberg Bank reiterated their buy rating on shares of Zegona Communications (LON:ZEG) in a research note released on Thursday, MarketBeat reports. They currently have a GBX 2,300 price target on the stock.

A number of other research analysts have also recently weighed in on ZEG. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 2,200 target price on shares of Zegona Communications in a report on Thursday, August 13th. Canaccord Genuity Group dropped their price target on Zegona Communications from GBX 2,500 to GBX 2,450 and set a “buy” rating for the company in a research note on Thursday, September 17th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Zegona Communications currently has an average rating of “Buy” and a consensus target price of GBX 2,316.67.

Zegona Communications Stock Performance

Zegona Communications stock opened at GBX 1,740 on Thursday. The stock has a fifty day moving average price of GBX 1,599.80 and a 200 day moving average price of GBX 1,675.94. Zegona Communications has a 52 week low of GBX 1,145 and a 52 week high of GBX 1,962. The firm has a market capitalization of £3.92 billion, a P/E ratio of -58.00 and a beta of 3.41. The company has a current ratio of 0.69, a quick ratio of 6.23 and a debt-to-equity ratio of 619.81.

Insider Transactions at Zegona Communications

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

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.