JPMorgan Chase & Co. Issues Positive Forecast for Airtel Africa (LON:AAF) Stock Price

Airtel Africa (LON:AAF) had its price objective increased by JPMorgan Chase & Co. from GBX 121 ($1.53) to GBX 128 ($1.62) in a research report released on Wednesday morning, Marketbeat Ratings reports. They currently have a buy rating on the stock.

Separately, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Airtel Africa from GBX 150 ($1.89) to GBX 155 ($1.96) and gave the company a “buy” rating in a research note on Monday, September 23rd.

Airtel Africa Stock Up 0.6 %

Airtel Africa stock opened at GBX 107.10 ($1.35) on Wednesday. Airtel Africa has a 52 week low of GBX 90.20 ($1.14) and a 52 week high of GBX 132.50 ($1.67). The stock has a market cap of £3.95 billion, a price-to-earnings ratio of -3,570.00, a PEG ratio of 0.58 and a beta of 1.04. The company’s 50-day moving average price is GBX 106.05 and its two-hundred day moving average price is GBX 112.69. 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. Shareholders of record on Thursday, November 7th were given a $0.03 dividend. This represents a yield of 1.74%. The ex-dividend date of this dividend was Thursday, November 7th. Airtel Africa’s dividend payout ratio (DPR) is presently -16,666.67%.

Insider Activity

In related news, insider Shravin Bharti Mittal acquired 688,175 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was bought at an average price of GBX 98 ($1.24) per share, for a total transaction of £674,411.50 ($851,207.24). Insiders own 72.58% of the company’s stock.

Airtel Africa Company Profile

Airtel Africa Plc, together with its subsidiaries, provides telecommunications and mobile money services in Nigeria, East Africa, and Francophone Africa. It offers prepaid and postpaid wireless voice, international roaming, and fixed line telephone services; data communication services, including 2G, 3G, and 4G; and mobile money services, such as digital wallet payments systems, microloans, savings, and international money transfers.