IDT (NYSE:IDT) Hits New 1-Year High – What’s Next?

IDT Corporation (NYSE:IDT)’s stock price hit a new 52-week high on Tuesday. The stock traded as high as $83.24 and last traded at $83.3090, with a volume of 53,063 shares traded. The stock had previously closed at $81.82.

IDT News Roundup

Here are the key news stories impacting IDT this week:

• Positive Sentiment: Higher analyst price target: Freedom Broker raised its price objective for IDT from $75 to $85 and maintained a “buy” rating. The new target suggests additional upside, while the broader analyst consensus remains “Moderate Buy.” Freedom Broker raises target for IDT stock
• Positive Sentiment: Strong share-price momentum: IDT is trading well above its 50-day moving average of $72.01 and 200-day moving average of $61.77, indicating sustained market strength. The company also recently paid a quarterly dividend of $0.07 per share.
• Neutral Sentiment: Mixed quarterly results: Revenue of $338.98 million exceeded the $319 million consensus estimate, but earnings per share of $0.94 missed expectations of $0.98. Analysts project full-year EPS of approximately $3.86.
• Negative Sentiment: Heavy insider selling: CFO Marcelo Fischer sold shares in two transactions totaling approximately $760,854, reducing his position by more than 11% in each sale. EVP Menachem Ash sold roughly $410,000 of stock, while EVP Nadine Shea sold $48,732, or 600 shares. These sales occurred near IDT’s recent highs and could raise concerns about insider confidence, although executives may sell for personal financial reasons. IDT insider sales
• Negative Sentiment: Director also sold shares: Director Schorr reportedly sold approximately $1.12 million of IDT stock, adding to the cluster of insider transactions and potentially weighing on sentiment. IDT director share sale

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Weiss Ratings upgraded IDT from a “hold (c+)” rating to a “buy (b)” rating in a research note on Tuesday, October 6th. Zacks Research upgraded shares of IDT to a “hold” rating in a research note on Monday, October 5th. Finally, Freedom Broker lifted their price target on shares of IDT from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, September 30th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $85.00.

IDT Price Performance

The firm has a market cap of $2.07 billion, a P/E ratio of 24.05 and a beta of 0.60. The stock’s 50 day moving average is $72.01 and its two-hundred day moving average is $61.77.

IDT (NYSE:IDT) last announced its quarterly earnings results on Monday, September 28th. The utilities provider reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.04). The business had revenue of $338.98 million for the quarter, compared to the consensus estimate of $319.00 million. IDT had a return on equity of 24.22% and a net margin of 6.67%. As a group, research analysts forecast that IDT Corporation will post 3.86 EPS for the current fiscal year.

IDT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 14th. Stockholders of record on Monday, October 5th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, October 5th. IDT’s dividend payout ratio is currently 8.07%.

Insiders Place Their Bets

In other news, Director Judah Schorr sold 7,717 shares of the stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $81.57, for a total value of $629,475.69. Following the completion of the transaction, the director directly owned 108,672 shares of the company’s stock, valued at approximately $8,864,375.04. This represents a 6.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Menachem Ash sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $82.00, for a total value of $410,000.00. Following the transaction, the executive vice president owned 19,193 shares of the company’s stock, valued at $1,573,826. This trade represents a 20.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 31,818 shares of company stock worth $2,597,244 in the last 90 days. 25.41% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Tidal Investments LLC bought a new position in shares of IDT during the second quarter valued at $646,000. Integrated Wealth Concepts LLC bought a new stake in IDT during the second quarter worth about $25,000. Allworth Financial LP increased its holdings in shares of IDT by 531.1% during the second quarter. Allworth Financial LP now owns 568 shares of the utilities provider’s stock worth $33,000 after buying an additional 478 shares in the last quarter. Nykredit A S acquired a new stake in shares of IDT during the second quarter worth approximately $32,000. Finally, Corient Private Wealth LP acquired a new stake in shares of IDT during the second quarter worth approximately $252,000. 59.34% of the stock is currently owned by institutional investors and hedge funds.

About IDT

IDT Corporation (NYSE: IDT) is a telecommunications and fintech company founded in 1990 by Howard Jonas. The company began as an international long-distance provider and has expanded into consumer communications, payment services and technology solutions for businesses and independent retailers.

Through its BOSS Revolution brand, IDT offers international calling, prepaid wireless services, mobile airtime and data top-ups, and international money-transfer services. Its communications operations also provide wholesale voice services and related connectivity solutions to carriers and other communications providers in markets worldwide.

IDT’s National Retail Solutions business provides independent retailers with point-of-sale technology, payment processing, business services and related tools.