Airtel Africa (LON:AAF) Sets New 1-Year High - Here's Why

Airtel Africa Plc (LON:AAF - Get Free Report)'s stock price reached a new 52-week high on Wednesday . The stock 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).

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. increased their price target on Airtel Africa from GBX 121 ($1.49) to GBX 128 ($1.58) and gave the company a "buy" rating in a report on Wednesday, December 11th.

Airtel Africa Trading Up 0.9 %

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 stock has a market capitalization of £4.73 billion, a price-to-earnings ratio of -4,270.00, a PEG ratio of 0.58 and a beta of 1.04. The company's 50 day moving average is GBX 108.73 and its 200 day moving average is GBX 111.80.

Airtel Africa Cuts Dividend

The company also recently declared a dividend, which was paid on Friday, December 13th. Investors of record on Thursday, November 7th were issued a dividend of $0.03 per share. This represents a yield of 1.74%. The ex-dividend date was Thursday, November 7th. Airtel Africa's dividend payout ratio is currently -16,666.67%.

Insider Activity at Airtel Africa

In other news, insider Shravin Bharti Mittal purchased 688,175 shares of the firm's stock in a transaction dated Friday, November 22nd. The stock was bought at an average price of GBX 98 ($1.21) per share, with a total value of £674,411.50 ($831,477.62). Insiders acquired 16,493,062 shares of company stock valued at $1,719,710,302 in the last three months. 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.