Zegona Communications (LON:ZEG) Reaches New 52-Week High – Should You Buy?

Zegona Communications plc (LON:ZEG)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as GBX 1,460 and last traded at GBX 1,450, with a volume of 1210969 shares traded. The stock had previously closed at GBX 1,444.61.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ZEG. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Zegona Communications from GBX 1,030 to GBX 1,550 and gave the stock a “buy” rating in a research note on Wednesday, August 13th. Berenberg Bank reiterated a “buy” rating and issued a GBX 1,350 price objective on shares of Zegona Communications in a research note on Tuesday, November 25th. Finally, Canaccord Genuity Group restated a “buy” rating and set a GBX 1,500 target price on shares of Zegona Communications in a research note on Wednesday, November 26th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of GBX 1,466.67.

Zegona Communications Price Performance

The stock’s 50 day simple moving average is GBX 1,270.05 and its two-hundred day simple moving average is GBX 1,030.60. The stock has a market cap of £11.08 billion, a price-to-earnings ratio of 132.73 and a beta of 2.80.

Zegona Communications Company Profile

Zegona is a British company investing strategically across the Europe with the objective of acquiring businesses in the European TMT sector, using a “Buy-Fix-Sell” strategy to deliver attractive shareholder returns.

The first acquisition made by Zegona was of Asturian telecommunications operator Telecable in 2015.