JPMorgan Chase & Co. Boosts Airtel Africa (LON:AAF) Price Target to GBX 105

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

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

Airtel Africa Stock Down 8.3 %

Shares of LON AAF opened at GBX 106.30 ($1.34) on Wednesday. The company has a debt-to-equity ratio of 156.18, a quick ratio of 0.26 and a current ratio of 0.58. The firm has a market capitalization of £3.99 billion, a price-to-earnings ratio of 1,655.71, a PEG ratio of 0.58 and a beta of 1.01. The stock has a 50 day moving average price of GBX 103.05 and a 200 day moving average price of GBX 111.30. Airtel Africa has a 52-week low of GBX 90.20 ($1.13) and a 52-week high of GBX 135.80 ($1.71).

Airtel Africa Increases Dividend

The business also recently declared a dividend, which will be paid on Friday, July 26th. Investors of record on Thursday, June 20th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Thursday, June 20th. This is a positive change from Airtel Africa’s previous dividend of $0.02. This represents a yield of 2.46%. Airtel Africa’s dividend payout ratio (DPR) is currently 5,714.29%.

Insider Activity at Airtel Africa

In other Airtel Africa news, insider Shravin Bharti Mittal bought 922 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were acquired 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 currently owned by corporate insiders.

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.