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

Zegona Communications (LON:ZEG)‘s stock had its “buy” rating reiterated by Berenberg Bank in a report released on Wednesday,Digital Look reports. They presently have a GBX 2,300 price target on the stock. Berenberg Bank’s price target would suggest a potential upside of 61.29% from the company’s previous close.

Zegona Communications Trading Down 7.6%

Shares of Zegona Communications stock opened at GBX 1,426 on Wednesday. The firm has a market capitalization of £3.22 billion, a PE ratio of -47.53 and a beta of 3.43. 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 company’s fifty day moving average price is GBX 1,711.93 and its two-hundred day moving average price is GBX 1,672.23. Zegona Communications has a 52-week low of GBX 722 and a 52-week high of GBX 1,962.

Insider Buying and Selling at Zegona Communications

In other Zegona Communications news, insider Suzi Williams bought 1,632 shares of the firm’s stock in a transaction dated Monday, June 29th. The shares were acquired at an average cost of GBX 1,716 per share, for a total transaction of £28,005.12. Company insiders own 41.79% 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.