IDT (NYSE:IDT) Cut to Buy at StockNews.com

StockNews.com cut shares of IDT (NYSE:IDT) from a strong-buy rating to a buy rating in a research report released on Monday morning.

IDT Trading Down 0.7 %

IDT stock opened at $49.05 on Monday. The stock has a 50-day moving average price of $47.90 and a 200-day moving average price of $46.19. IDT has a 1-year low of $33.84 and a 1-year high of $58.77. The firm has a market cap of $1.24 billion, a PE ratio of 16.80 and a beta of 0.83.

IDT (NYSE:IDT) last posted its quarterly earnings data on Thursday, March 6th. The utilities provider reported $0.81 earnings per share for the quarter. IDT had a return on equity of 22.18% and a net margin of 6.10%. The firm had revenue of $303.35 million during the quarter.

IDT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 17th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.49%. This is a positive change from IDT’s previous quarterly dividend of $0.05. The ex-dividend date is Monday, March 17th. IDT’s payout ratio is presently 7.62%.

Insider Activity at IDT

In related news, CTO David Wartell sold 17,116 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $47.11, for a total value of $806,334.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 25.32% of the stock is currently owned by corporate insiders.

Institutional Trading of IDT

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IDT. New York State Teachers Retirement System bought a new stake in IDT in the 3rd quarter valued at about $54,000. Versor Investments LP bought a new stake in IDT during the 3rd quarter worth approximately $213,000. Victory Capital Management Inc. increased its holdings in IDT by 7.3% during the 3rd quarter. Victory Capital Management Inc. now owns 34,313 shares of the utilities provider’s stock worth $1,310,000 after purchasing an additional 2,320 shares in the last quarter. Quest Partners LLC increased its holdings in IDT by 40.7% during the 3rd quarter. Quest Partners LLC now owns 10,554 shares of the utilities provider’s stock worth $403,000 after purchasing an additional 3,055 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in IDT by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 157,808 shares of the utilities provider’s stock worth $6,024,000 after purchasing an additional 6,183 shares in the last quarter. 59.34% of the stock is owned by institutional investors.

About IDT

IDT Corporation provides communications and payment services in the United States, the United Kingdom, and internationally. It operates through Fintech, National Retail Solutions, net2phone, and Traditional Communications segments. The company operates point of sale, a terminal-based platform which provides independent retailers store management software, electronic payment processing, and other ancillary merchant services; and provides marketers with digital out-of-home advertising and transaction data.