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

Berenberg Bank reissued their buy rating on shares of Zegona Communications (LON:ZEG) in a report published on Monday morning,London Stock Exchange reports. Berenberg Bank currently has a GBX 2,300 price objective on the stock.

Zegona Communications Stock Performance

ZEG stock traded down GBX 30 during midday trading on Monday, reaching GBX 1,752. 256,656 shares of the company were exchanged, compared to its average volume of 2,454,919. Zegona Communications has a one year low of GBX 678 and a one year high of GBX 1,962. The firm has a market capitalization of £3.96 billion, a price-to-earnings ratio of 159.27 and a beta of 3.42. The business has a 50-day moving average price of GBX 1,783.08 and a two-hundred day moving average price of GBX 1,642.98. The company has a debt-to-equity ratio of 608.59, a current ratio of 0.58 and a quick ratio of 6.23.

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.