Airtel Africa (LON:AAF) Reaches New 12-Month High – Time to Buy?

Airtel Africa Plc (LON:AAF) hit a new 52-week high during mid-day trading 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 trading hands. The stock had previously closed at GBX 127 ($1.57).

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. boosted their price objective on shares of 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 Up 0.9 %

The company has a debt-to-equity ratio of 180.85, a current ratio of 0.52 and a quick ratio of 0.26. The stock has a 50 day simple moving average of GBX 108.12 and a 200-day simple moving average of GBX 111.72. The firm has a market cap of £4.73 billion, a PE ratio of -4,269.97, a PEG ratio of 0.58 and a beta of 1.04.

Airtel Africa Cuts Dividend

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

Insider Buying and Selling

In other news, insider Shravin Bharti Mittal purchased 804,887 shares of Airtel Africa stock in a transaction that occurred on Wednesday, November 20th. The stock was bought at an average price of GBX 96 ($1.18) per share, with a total value of £772,691.52 ($952,646.43). Insiders have bought a total of 16,493,062 shares of company stock worth $1,719,710,302 in the last quarter. Corporate 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.