IDT Corporation (NYSE:IDT) Declares $0.07 Quarterly Dividend

IDT Corporation (NYSE:IDT) announced a quarterly dividend on Thursday, May 28th. Stockholders of record on Tuesday, June 9th will be paid a dividend of 0.07 per share by the utilities provider on Thursday, June 18th. This represents a c) dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Tuesday, June 9th.

IDT has a payout ratio of 8.2% indicating that its dividend is sufficiently covered by earnings.

IDT Trading Up 1.0%

Shares of IDT stock opened at $56.11 on Friday. IDT has a 12-month low of $45.72 and a 12-month high of $71.12. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 17.16 and a beta of 0.68. The company’s 50-day moving average price is $51.78 and its 200-day moving average price is $50.57.

IDT (NYSE:IDT) last announced its earnings results on Wednesday, June 3rd. The utilities provider reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.05. The business had revenue of $315.71 million for the quarter, compared to the consensus estimate of $308.00 million. IDT had a net margin of 6.41% and a return on equity of 25.07%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on IDT. Wall Street Zen downgraded shares of IDT from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of IDT in a research note on Friday, March 27th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

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.