Key Points
- IDT CFO Marcelo Fischer sold 23,323 shares on June 26 for about $1.33 million at an average price of $56.98, cutting his direct stake by 41.54%.
- IDT beat quarterly earnings expectations, reporting $0.94 per share versus the $0.89 consensus and revenue of $315.71 million versus expectations of $308 million.
- The company also paid a quarterly dividend of $0.07 per share, which annualizes to $0.28 and yields about 0.5% at current prices.
IDT Corporation (NYSE:IDT - Get Free Report) CFO Marcelo Fischer sold 23,323 shares of IDT stock in a transaction on Friday, June 26th. The shares were sold at an average price of $56.98, for a total value of $1,328,944.54. Following the transaction, the chief financial officer directly owned 32,824 shares of the company's stock, valued at approximately $1,870,311.52. The trade was a 41.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Marcelo Fischer also recently made the following trade(s):
- On Tuesday, April 14th, Marcelo Fischer sold 5,000 shares of IDT stock. The stock was sold at an average price of $50.50, for a total transaction of $252,500.00.
IDT Stock Up 0.6%
Shares of IDT stock opened at $58.28 on Wednesday. The company has a market capitalization of $1.45 billion, a P/E ratio of 17.82 and a beta of 0.68. IDT Corporation has a 12-month low of $45.72 and a 12-month high of $71.12. The firm has a 50-day moving average price of $53.71 and a 200 day moving average price of $51.25.
IDT (NYSE:IDT - Get Free Report) last issued its quarterly earnings data on Wednesday, June 3rd. The utilities provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.05. The firm had revenue of $315.71 million for the quarter, compared to analysts' expectations of $308.00 million. IDT had a net margin of 6.41% and a return on equity of 24.36%.
IDT Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Tuesday, June 9th were given a dividend of $0.07 per share. The ex-dividend date was Tuesday, June 9th. This represents a $0.28 dividend on an annualized basis and a yield of 0.5%. IDT's dividend payout ratio is 8.56%.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on IDT. Weiss Ratings raised IDT from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, June 25th. Wall Street Zen cut shares of IDT from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 3rd. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, IDT has an average rating of "Hold".
Get Our Latest Analysis on IDT
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of IDT. AQR Capital Management LLC boosted its position in IDT by 40.2% in the 1st quarter. AQR Capital Management LLC now owns 58,197 shares of the utilities provider's stock valued at $2,986,000 after buying an additional 16,678 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of IDT by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,156 shares of the utilities provider's stock worth $470,000 after acquiring an additional 381 shares during the last quarter. Millennium Management LLC lifted its stake in shares of IDT by 392.6% during the first 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 during the period. Marshall Wace LLP lifted its stake in shares of IDT by 1,436.4% during the second 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 during the period. Finally, Gabelli Funds LLC bought a new position in IDT in the second quarter valued at about $239,000. 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.
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