Airtel Africa (LON:AAF) Hits New 12-Month High – Here’s What Happened

Airtel Africa Plc (LON:AAF)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as GBX 162.20 ($2.09) and last traded at GBX 162 ($2.09), with a volume of 1404733 shares. The stock had previously closed at GBX 159.60 ($2.05).

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. raised their price objective on shares of Airtel Africa from GBX 121 ($1.56) to GBX 128 ($1.65) and gave the company a “buy” rating in a report on Wednesday, December 11th.

Airtel Africa Price Performance

The stock has a market capitalization of £7.58 billion, a price-to-earnings ratio of -97.29, a P/E/G ratio of 0.58 and a beta of 1.04. The company has a fifty day simple moving average of GBX 143.26 and a 200 day simple moving average of GBX 121.72. The company has a debt-to-equity ratio of 275.30, a quick ratio of 0.26 and a current ratio of 0.47.

Insider Buying and Selling

In related news, insider Sunil Bharti Mittal bought 163,582,576 shares of the business’s stock in a transaction on Friday, February 21st. The stock was acquired at an average price of GBX 132 ($1.70) per share, for a total transaction of £215,929,000.32 ($278,008,240.40). Also, insider Shravin Bharti Mittal purchased 15,000,000 shares of the firm’s stock in a transaction dated Friday, December 27th. The stock was purchased at an average cost of GBX 105 ($1.35) per share, for a total transaction of £15,750,000 ($20,278,099.65). 72.58% of the stock is owned by insiders.

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.