IDT (NYSE:IDT) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

IDT Corporation (NYSE:IDT)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $51.92 and traded as high as $63.80. IDT shares last traded at $62.76, with a volume of 156,844 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on IDT shares. Weiss Ratings raised IDT from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, June 25th. Wall Street Zen downgraded IDT from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 3rd. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

IDT Stock Performance

The business’s 50-day moving average is $55.80 and its two-hundred day moving average is $52.00. The stock has a market capitalization of $1.57 billion, a PE ratio of 19.27 and a beta of 0.64.

IDT (NYSE:IDT) last announced its quarterly earnings data on Wednesday, June 3rd. The utilities provider reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.05. IDT had a net margin of 6.41% and a return on equity of 24.36%. The company had revenue of $315.71 million during the quarter, compared to the consensus estimate of $308.00 million.

IDT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Tuesday, June 9th were given a $0.07 dividend. The ex-dividend date was Tuesday, June 9th. This represents a $0.28 dividend on an annualized basis and a yield of 0.4%. IDT’s dividend payout ratio (DPR) is presently 8.56%.

Insider Buying and Selling

In other IDT news, CFO Marcelo Fischer sold 23,323 shares of IDT stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $56.98, for a total value of $1,328,944.54. Following the sale, the chief financial officer owned 32,824 shares of the company’s stock, valued at approximately $1,870,311.52. The trade was a 41.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nadine Shea sold 500 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $55.32, for a total value of $27,660.00. Following the transaction, the executive vice president owned 8,725 shares in the company, valued at $482,667. The trade was a 5.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 25.41% of the stock is currently owned by insiders.

Institutional Trading of IDT

A number of institutional investors have recently modified their holdings of IDT. SG Americas Securities LLC acquired a new stake in IDT in the fourth quarter valued at $748,000. Cooke & Bieler LP purchased a new stake in shares of IDT during the 4th quarter worth $20,030,000. Lazard Asset Management LLC grew its stake in shares of IDT by 310.8% during the 2nd quarter. Lazard Asset Management LLC now owns 53,340 shares of the utilities provider’s stock worth $3,643,000 after purchasing an additional 40,357 shares during the period. AQR Capital Management LLC grew its stake in shares of IDT by 40.2% during the 1st quarter. AQR Capital Management LLC now owns 58,197 shares of the utilities provider’s stock worth $2,986,000 after purchasing an additional 16,678 shares during the period. Finally, California State Teachers Retirement System increased its holdings in shares of IDT by 27.0% in the 3rd quarter. California State Teachers Retirement System now owns 19,481 shares of the utilities provider’s stock valued at $1,019,000 after purchasing an additional 4,136 shares in the last quarter. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

IDT Company Profile

IDT Corporation, founded in 1990 and headquartered in Newark, New Jersey, is a diversified global provider of telecommunications and payment services. The company operates through its primary communications arm, IDT Telecom, and a digital solutions segment that encompasses cross-border money transfers and related fintech offerings. Since its inception, IDT has built an international network infrastructure to support voice and data transmission across more than 200 countries and territories.

Through IDT Telecom, the company offers a suite of voice communication products, including prepaid phone cards, VoIP services, SIP trunking and operator-assisted calling.