Airtel Africa (LON:AAF) Stock Price Down 0.4% - Here's Why

Airtel Africa Plc (LON:AAF - Get Free Report)'s stock price fell 0.4% during trading on Wednesday . The stock traded as low as GBX 113.60 ($1.41) and last traded at GBX 113.60 ($1.41). 1,854,675 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 3,467,376 shares. The stock had previously closed at GBX 114.10 ($1.41).

Analyst Ratings Changes

A number of research firms have issued reports on AAF. JPMorgan Chase & Co. boosted their target price on Airtel Africa from GBX 121 ($1.50) to GBX 128 ($1.58) and gave the company a "buy" rating in a research note on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft boosted their price objective on Airtel Africa from GBX 150 ($1.86) to GBX 155 ($1.92) and gave the company a "buy" rating in a research report on Monday, September 23rd.

Airtel Africa Price Performance

The company has a current ratio of 0.52, a quick ratio of 0.26 and a debt-to-equity ratio of 180.85. The company has a market capitalization of £4.32 billion, a P/E ratio of -3,903.03, a P/E/G ratio of 0.58 and a beta of 1.04. The company has a 50 day moving average price of GBX 105 and a 200 day moving average price of GBX 111.68.

Airtel Africa Cuts Dividend

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

Insider Transactions at Airtel Africa

In other news, insider Shravin Bharti Mittal acquired 15,000,000 shares of the firm's stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average cost of GBX 105 ($1.30) per share, with a total value of £15,750,000 ($19,494,987.00). Over the last 90 days, insiders bought 16,493,062 shares of company stock valued at $1,719,710,302. 72.58% 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.