Airtel Africa (LON:AAF) Shares Down 1.4%

Airtel Africa Plc (LON:AAF) shares were down 1.4% during trading on Tuesday . The company traded as low as GBX 116.40 ($1.47) and last traded at GBX 116.60 ($1.47). Approximately 2,787,477 shares changed hands during trading, a decline of 8% from the average daily volume of 3,025,673 shares. The stock had previously closed at GBX 118.20 ($1.50).

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. lifted their price objective on shares of Airtel Africa from GBX 93 ($1.18) to GBX 105 ($1.33) and gave the stock a “neutral” rating in a report on Wednesday, May 8th.

Airtel Africa Trading Down 1.4 %

The stock has a market capitalization of £4.36 billion, a PE ratio of -3,886.67, a PEG ratio of 0.58 and a beta of 1.01. The stock’s 50 day moving average price is GBX 117.93 and its 200-day moving average price is GBX 112.96. The company has a quick ratio of 0.26, a current ratio of 0.57 and a debt-to-equity ratio of 194.00.

Airtel Africa Increases Dividend

The company also recently disclosed a dividend, which will be paid on Friday, July 26th. Stockholders of record on Thursday, June 20th will be given a $0.04 dividend. The ex-dividend date of this dividend is Thursday, June 20th. This represents a dividend yield of 2.46%. This is an increase from Airtel Africa’s previous dividend of $0.02. Airtel Africa’s payout ratio is presently -16,666.67%.

Insider Buying and Selling at Airtel Africa

In related news, insider Jaideep Paul sold 884,420 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of GBX 120 ($1.52), for a total value of £1,061,304 ($1,342,403.24). Company insiders own 73.06% of the company’s stock.

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.