JPMorgan Chase & Co. Cuts Airtel Africa (LON:AAF) Price Target to GBX 160

Airtel Africa (LON:AAFGet Rating) had its price target reduced by JPMorgan Chase & Co. from GBX 215 ($2.54) to GBX 160 ($1.89) in a research note published on Tuesday, MarketBeat.com reports. They currently have an overweight rating on the stock.

Separately, Barclays reaffirmed an overweight rating and issued a GBX 200 ($2.36) price objective on shares of Airtel Africa in a research note on Monday, October 31st.

Airtel Africa Price Performance

Airtel Africa stock opened at GBX 120.60 ($1.43) on Tuesday. The stock’s 50 day moving average is GBX 125.54 and its 200 day moving average is GBX 138.77. The company has a debt-to-equity ratio of 109.69, a current ratio of 0.56 and a quick ratio of 0.26. The firm has a market cap of £4.53 billion and a P/E ratio of 800.67. Airtel Africa has a one year low of GBX 106.54 ($1.26) and a one year high of GBX 173.10 ($2.05).

Airtel Africa Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, December 9th. Stockholders of record on Thursday, November 10th will be issued a dividend of $0.02 per share. The ex-dividend date is Thursday, November 10th. This represents a dividend yield of 1.68%. Airtel Africa’s dividend payout ratio is 33.09%.

About Airtel Africa

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Airtel Africa Plc, together with its subsidiaries, provides telecommunications and mobile money services to customers 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.

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