Key Points
- IDT EVP Nadine Shea sold 500 shares of company stock on June 8 at an average price of $55.32, totaling $27,660. After the sale, she still held 8,725 shares.
- IDT reported stronger-than-expected quarterly results, posting EPS of $0.94 versus the $0.89 consensus estimate and revenue of $315.71 million, above forecasts.
- The company declared a quarterly dividend of $0.07 per share, payable June 18, which works out to an annualized yield of about 0.5%.
IDT Corporation (NYSE:IDT - Get Free Report) EVP Nadine Shea sold 500 shares of IDT stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $55.32, for a total transaction of $27,660.00. Following the sale, the executive vice president owned 8,725 shares in the company, valued at approximately $482,667. This represents a 5.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
IDT Price Performance
NYSE:IDT opened at $55.69 on Thursday. The firm's 50 day simple moving average is $52.23 and its 200 day simple moving average is $50.70. IDT Corporation has a one year low of $45.72 and a one year high of $71.12. The company has a market cap of $1.40 billion, a PE ratio of 17.03 and a beta of 0.68.
IDT (NYSE:IDT - Get Free Report) last posted its earnings results on Wednesday, June 3rd. The utilities provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.89 by $0.05. IDT had a net margin of 6.41% and a return on equity of 25.07%. The business had revenue of $315.71 million for the quarter, compared to the consensus estimate of $308.00 million.
IDT Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Tuesday, June 9th will be given a $0.07 dividend. The ex-dividend date is Tuesday, June 9th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.5%. IDT's payout ratio is 8.56%.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on IDT. Wall Street Zen downgraded shares of IDT from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 3rd. Weiss Ratings restated a "hold (c+)" rating on shares of IDT in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, IDT has a consensus rating of "Hold".
Get Our Latest Research Report on IDT
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of IDT. Cooke & Bieler LP acquired a new position in shares of IDT in the 4th quarter worth approximately $20,030,000. Millennium Management LLC increased its stake in shares of IDT by 392.6% in the 1st quarter. Millennium Management LLC now owns 163,830 shares of the utilities provider's stock valued at $8,406,000 after acquiring an additional 130,569 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of IDT by 22.1% in the 4th quarter. Geode Capital Management LLC now owns 559,849 shares of the utilities provider's stock valued at $28,675,000 after acquiring an additional 101,268 shares in the last quarter. Marshall Wace LLP increased its stake in shares of IDT by 1,436.4% in the 2nd quarter. Marshall Wace LLP now owns 94,674 shares of the utilities provider's stock valued at $6,468,000 after acquiring an additional 88,512 shares in the last quarter. Finally, CSM Advisors LLC increased its stake in shares of IDT by 107.4% in the 4th quarter. CSM Advisors LLC now owns 103,950 shares of the utilities provider's stock valued at $5,321,000 after acquiring an additional 53,835 shares in the last quarter. Institutional investors and hedge funds own 59.34% of the company's stock.
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
