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

Berenberg Bank reaffirmed their buy rating on shares of Zegona Communications (LON:ZEG) in a research note issued to investors on Wednesday morning,Digital Look reports. Berenberg Bank currently has a GBX 2,300 target price on the stock.

Zegona Communications Trading Up 0.4%

Shares of ZEG opened at GBX 1,521.37 on Wednesday. The firm’s 50-day moving average price is GBX 1,692.77 and its 200-day moving average price is GBX 1,673.61. The firm has a market capitalization of £3.43 billion, a price-to-earnings ratio of -50.71 and a beta of 3.43. The company has a current ratio of 0.70, a quick ratio of 6.23 and a debt-to-equity ratio of 592.64. Zegona Communications has a 1-year low of GBX 722 and a 1-year high of GBX 1,962.

Insider Buying and Selling

In other news, insider Suzi Williams acquired 1,632 shares of the business’s stock in a transaction on Monday, June 29th. The shares were acquired at an average cost of GBX 1,716 per share, with a total value of £28,005.12. 41.79% of the stock is owned by company insiders.

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.