IDT (NYSE:IDT) Releases Quarterly Earnings Results

IDT (NYSE:IDT) announced its quarterly earnings results on Monday. The utilities provider reported $0.76 earnings per share (EPS) for the quarter, Zacks reports. IDT had a net margin of 7.85% and a return on equity of 26.38%.

IDT Price Performance

Shares of IDT stock traded up $1.55 during trading on Monday, hitting $64.12. The stock had a trading volume of 257,141 shares, compared to its average volume of 150,805. IDT has a 12 month low of $37.45 and a 12 month high of $71.12. The firm’s fifty day simple moving average is $62.35 and its 200-day simple moving average is $59.00. The stock has a market cap of $1.62 billion, a PE ratio of 16.92 and a beta of 0.79.

IDT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Tuesday, September 30th. IDT’s dividend payout ratio (DPR) is 6.33%.

Institutional Investors Weigh In On IDT

Large investors have recently modified their holdings of the business. Gabelli Funds LLC purchased a new position in shares of IDT in the 2nd quarter worth approximately $239,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in IDT by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,156 shares of the utilities provider’s stock valued at $470,000 after acquiring an additional 381 shares during the period. Lazard Asset Management LLC lifted its stake in IDT by 310.8% during the 2nd quarter. Lazard Asset Management LLC now owns 53,340 shares of the utilities provider’s stock valued at $3,643,000 after acquiring an additional 40,357 shares during the period. AQR Capital Management LLC lifted its stake in shares of IDT by 40.2% in the 1st quarter. AQR Capital Management LLC now owns 58,197 shares of the utilities provider’s stock valued at $2,986,000 after purchasing an additional 16,678 shares during the period. Finally, Marshall Wace LLP lifted its stake in shares of IDT by 1,436.4% in the 2nd quarter. Marshall Wace LLP now owns 94,674 shares of the utilities provider’s stock valued at $6,468,000 after purchasing an additional 88,512 shares during the period. Institutional investors own 59.34% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of IDT from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 14th.

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.