Key Points
- Insider sale: IDT EVP Menachem Ash sold 20,000 shares on April 14 at an average price of $51.00 for proceeds of $1.02M, reducing his position by 38.28% to 32,243 shares.
- Quarterly results and dividend hike: IDT reported Q EPS of $1.00 (vs. $0.90 estimate) and revenue of $320.52M (vs. $302M), and raised its quarterly dividend to $0.07 (annualized $0.28, ~0.5% yield).
- Market snapshot and sentiment: The stock trades around $51 with a $1.29B market cap and a 15.7 P/E, analysts’ consensus is "Hold," and institutional investors own about 59.34% of shares.
IDT Corporation (NYSE:IDT - Get Free Report) CFO Marcelo Fischer sold 5,000 shares of IDT stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $50.50, for a total value of $252,500.00. Following the sale, the chief financial officer directly owned 56,147 shares of the company's stock, valued at $2,835,423.50. This represents a 8.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
IDT Stock Up 1.0%
Shares of IDT stock opened at $51.25 on Friday. The company has a 50-day simple moving average of $49.36 and a two-hundred day simple moving average of $49.93. IDT Corporation has a twelve month low of $45.72 and a twelve month high of $71.12. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 15.72 and a beta of 0.70.
IDT (NYSE:IDT - Get Free Report) last issued its quarterly earnings results on Tuesday, March 10th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.10. The business had revenue of $320.52 million for the quarter, compared to the consensus estimate of $302.00 million. IDT had a return on equity of 25.97% and a net margin of 6.49%.
IDT Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 19th were paid a dividend of $0.07 per share. The ex-dividend date was Thursday, March 19th. This is a positive change from IDT's previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a yield of 0.5%. IDT's dividend payout ratio is currently 8.59%.
Analyst Upgrades and Downgrades
IDT has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of IDT in a report on Friday, March 27th. Wall Street Zen lowered IDT from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 7th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of "Hold".
Check Out Our Latest Report on IDT
Hedge Funds Weigh In On IDT
Several large investors have recently bought and sold shares of IDT. Public Employees Retirement System of Ohio bought a new stake in shares of IDT during the third quarter worth about $96,000. Gabelli Funds LLC bought a new stake in shares of IDT in the second quarter worth $239,000. State of Tennessee Department of Treasury bought a new stake in shares of IDT in the fourth quarter worth $268,000. Ameriprise Financial Inc. acquired a new stake in IDT in the third quarter valued at $399,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position 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 worth $470,000 after purchasing an additional 381 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors.
About IDT
(
Get Free Report)
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.
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