Zegona Communications (LON:ZEG) Reaches New 12-Month High – Here’s What Happened

Zegona Communications plc (LON:ZEG)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as GBX 1,860 and last traded at GBX 1,795, with a volume of 44337176 shares. The stock had previously closed at GBX 1,815.

Analysts Set New Price Targets

Several equities analysts have weighed in on ZEG shares. Canaccord Genuity Group lifted their price objective on Zegona Communications from GBX 1,500 to GBX 2,150 and gave the company a “buy” rating in a report on Monday, January 12th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 1,350 price target on shares of Zegona Communications in a research note on Tuesday, November 25th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Zegona Communications presently has an average rating of “Buy” and an average target price of GBX 1,683.33.

Zegona Communications Trading Up 1.4%

The company has a 50 day moving average price of GBX 1,520.12 and a 200-day moving average price of GBX 1,338.28. The company has a market cap of £4.24 billion, a P/E ratio of 165.45 and a beta of 2.80.

Zegona Communications announced that its board has authorized a stock repurchase plan on Friday, December 12th that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

About Zegona Communications

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.