Airtel Africa (LON:AAF) Price Target Increased to GBX 105 by Analysts at JPMorgan Chase & Co.

Airtel Africa (LON:AAF) had its price objective lifted by JPMorgan Chase & Co. from GBX 93 ($1.17) to GBX 105 ($1.32) in a research note released on Wednesday morning, Marketbeat reports. The brokerage currently has a neutral rating on the stock.

Separately, Barclays dropped their target price on shares of Airtel Africa from GBX 170 ($2.14) to GBX 150 ($1.88) and set an overweight rating on the stock in a research report on Tuesday, February 6th.

Airtel Africa Stock Down 8.3 %

Shares of LON:AAF opened at GBX 106.30 ($1.34) on Wednesday. Airtel Africa has a 1 year low of GBX 90.20 ($1.13) and a 1 year high of GBX 135.80 ($1.71). The company has a debt-to-equity ratio of 156.18, a current ratio of 0.58 and a quick ratio of 0.26. The business’s 50-day moving average is GBX 103.05 and its 200-day moving average is GBX 111.30. The company has a market capitalization of £3.99 billion, a price-to-earnings ratio of 1,655.71, a P/E/G ratio of 0.58 and a beta of 1.01.

Airtel Africa Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, July 26th. Stockholders of record on Thursday, June 20th will be issued a dividend of $0.04 per share. This is a boost from Airtel Africa’s previous dividend of $0.02. This represents a dividend yield of 2.46%. The ex-dividend date is Thursday, June 20th. Airtel Africa’s dividend payout ratio (DPR) is currently 5,714.29%.

Insider Activity at Airtel Africa

In related news, insider Shravin Bharti Mittal acquired 922 shares of the stock in a transaction dated Monday, March 25th. The stock was purchased at an average cost of GBX 100 ($1.26) per share, with a total value of £922 ($1,158.29). 72.85% of the stock is owned by insiders.

About Airtel Africa

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.