Airtel Africa (LON:AAF) Shares Down 0.4% – Here’s What Happened

Shares of Airtel Africa Plc (LON:AAF) were down 0.4% during mid-day trading on Wednesday . The company traded as low as GBX 113.60 ($1.41) and last traded at GBX 113.60 ($1.41). Approximately 1,854,675 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 3,467,376 shares. The stock had previously closed at GBX 114.10 ($1.41).

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft increased their price target on Airtel Africa from GBX 150 ($1.86) to GBX 155 ($1.92) and gave the company a “buy” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. raised their target price on Airtel Africa from GBX 121 ($1.50) to GBX 128 ($1.58) and gave the stock a “buy” rating in a research note on Wednesday, December 11th.

Airtel Africa Stock Performance

The firm has a market cap of £4.37 billion, a PE ratio of -3,943.33, a PEG ratio of 0.58 and a beta of 1.04. The company has a debt-to-equity ratio of 180.85, a quick ratio of 0.26 and a current ratio of 0.52. The firm’s 50 day moving average price is GBX 105 and its two-hundred day moving average price is GBX 111.68.

Airtel Africa Cuts Dividend

The firm also recently announced a dividend, which was paid on Friday, December 13th. Shareholders of record on Thursday, November 7th were paid a dividend of $0.03 per share. The ex-dividend date was Thursday, November 7th. This represents a yield of 1.74%. Airtel Africa’s dividend payout ratio (DPR) is -16,666.67%.

Insider Buying and Selling at Airtel Africa

In related news, insider Shravin Bharti Mittal acquired 15,000,000 shares of the firm’s stock in a transaction dated Friday, December 27th. The shares were purchased at an average cost of GBX 105 ($1.30) per share, for a total transaction of £15,750,000 ($19,494,987.00). Insiders have acquired 16,493,062 shares of company stock worth $1,719,710,302 over the last quarter. 72.58% of the stock is currently owned by company 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.