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

Berenberg Bank reiterated their buy rating on shares of Zegona Communications (LON:ZEG) in a report published on Friday, MarketBeat Ratings reports. The firm currently has a GBX 2,300 price objective on the stock.

Several other brokerages have also recently issued reports on ZEG. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 2,200 target price on shares of Zegona Communications in a research report on Thursday, August 13th. Canaccord Genuity Group restated a “buy” rating and set a GBX 2,500 price objective on shares of Zegona Communications in a research note on Wednesday, July 15th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Zegona Communications currently has an average rating of “Buy” and a consensus price target of GBX 2,333.33.

Zegona Communications Trading Up 2.5%

Shares of LON:ZEG opened at GBX 1,644 on Friday. The company has a market capitalization of £3.71 billion, a P/E ratio of -54.80 and a beta of 3.41. Zegona Communications has a 1 year low of GBX 1,135.50 and a 1 year high of GBX 1,962. The business’s 50 day simple moving average is GBX 1,535.18 and its 200 day simple moving average is GBX 1,677.36. The company has a debt-to-equity ratio of 592.64, a current ratio of 0.70 and a quick ratio of 6.23.

Insider Buying and Selling

In other Zegona Communications news, insider Suzi Williams purchased 1,632 shares of the company’s stock in a transaction that occurred on 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. Also, insider Timothy Pennington purchased 6,588 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were acquired at an average price of GBX 15 per share, for a total transaction of £988.20. Company insiders own 41.81% 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.