IDT (NYSE:IDT) Rating Lowered to Buy at StockNews.com

StockNews.com lowered shares of IDT (NYSE:IDT) from a strong-buy rating to a buy rating in a report published on Thursday.

IDT Stock Down 0.9 %

NYSE IDT opened at $36.15 on Thursday. IDT has a twelve month low of $21.64 and a twelve month high of $41.58. The business has a 50-day moving average price of $37.72 and a 200-day moving average price of $36.56. The firm has a market cap of $916.04 million, a price-to-earnings ratio of 25.82 and a beta of 0.82.

IDT (NYSE:IDT) last posted its quarterly earnings results on Wednesday, June 5th. The utilities provider reported $0.33 earnings per share for the quarter. The business had revenue of $299.64 million during the quarter. IDT had a return on equity of 18.56% and a net margin of 2.97%.

IDT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Monday, June 10th. IDT’s payout ratio is presently 14.29%.

Institutional Investors Weigh In On IDT

Several large investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of IDT in the first quarter valued at approximately $23,276,000. Russell Investments Group Ltd. grew its position in shares of IDT by 163.3% during the 4th quarter. Russell Investments Group Ltd. now owns 94,905 shares of the utilities provider’s stock worth $3,235,000 after buying an additional 58,859 shares in the last quarter. Orchard Capital Management LLC increased its stake in shares of IDT by 5.4% during the fourth quarter. Orchard Capital Management LLC now owns 282,466 shares of the utilities provider’s stock valued at $9,629,000 after buying an additional 14,466 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of IDT by 146.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 22,973 shares of the utilities provider’s stock valued at $783,000 after acquiring an additional 13,659 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC lifted its stake in IDT by 28.6% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 53,367 shares of the utilities provider’s stock worth $1,819,000 after acquiring an additional 11,875 shares during the period. Institutional investors own 59.34% of the company’s stock.

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.