Airtel Africa (LON:AAF) Reaches New 52-Week High – What’s Next?

Airtel Africa Plc (LON:AAF) reached a new 52-week high on Wednesday . The company traded as high as GBX 129 ($1.59) and last traded at GBX 128.80 ($1.59), with a volume of 9207708 shares changing hands. The stock had previously closed at GBX 127 ($1.57).

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. lifted their price target on Airtel Africa from GBX 121 ($1.49) to GBX 128 ($1.58) and gave the stock a “buy” rating in a research note on Wednesday, December 11th.

Airtel Africa Stock Performance

The firm has a market cap of £4.73 billion, a P/E ratio of -4,269.97, a price-to-earnings-growth ratio of 0.58 and a beta of 1.04. The business’s fifty day simple moving average is GBX 108.12 and its 200-day simple moving average is GBX 111.72. The company has a current ratio of 0.52, a quick ratio of 0.26 and a debt-to-equity ratio of 180.85.

Airtel Africa Cuts Dividend

The firm also recently declared a dividend, which was paid on Friday, December 13th. Investors of record on Thursday, November 7th were issued a dividend of $0.03 per share. The ex-dividend date was Thursday, November 7th. This represents a yield of 1.74%. Airtel Africa’s dividend payout ratio is presently -16,666.67%.

Insider Buying and Selling at Airtel Africa

In related news, insider Shravin Bharti Mittal acquired 15,000,000 shares of Airtel Africa stock in a transaction on Friday, December 27th. The shares were acquired at an average cost of GBX 105 ($1.29) per share, with a total value of £15,750,000 ($19,418,074.22). Insiders acquired 16,493,062 shares of company stock valued at $1,719,710,302 in the last 90 days. Insiders own 72.58% of the company’s stock.

Airtel Africa Company Profile

Airtel Africa is a leading provider of telecommunications and mobile money services, with a presence in 14 countries in Africa, primarily in East Africa and Central and West Africa.
Airtel Africa offers an integrated suite of telecommunications solutions to its subscribers, including mobile voice and data services as well as mobile money services both nationally and internationally.
The Group aims to continue providing a simple and intuitive customer experience through streamlined customer journeys.