IDT (NYSE:IDT) Stock Rating Upgraded by StockNews.com

by · The Cerbat Gem

StockNews.com upgraded shares of IDT (NYSE:IDT – Free Report) from a buy rating to a strong-buy rating in a report published on Tuesday.

IDT Stock Up 0.9 %

Shares of IDT opened at $50.90 on Tuesday. The company’s fifty day moving average is $48.19 and its two-hundred day moving average is $46.58. IDT has a fifty-two week low of $33.84 and a fifty-two week high of $58.77. The firm has a market cap of $1.29 billion, a PE ratio of 17.43 and a beta of 0.84.

IDT (NYSE:IDT – Get Free Report) last issued its earnings results on Thursday, March 6th. The utilities provider reported $0.81 EPS for the quarter. IDT had a net margin of 6.10% and a return on equity of 22.18%. The business had revenue of $303.35 million for the quarter.

IDT Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 17th will be paid a dividend of $0.06 per share. This is an increase from IDT’s previous quarterly dividend of $0.05. The ex-dividend date is Monday, March 17th. This represents a $0.24 annualized dividend and a yield of 0.47%. IDT’s payout ratio is 7.62%.

Insider Transactions at IDT

In other news, CTO David Wartell sold 10,735 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $48.99, for a total value of $525,907.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 25.32% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of IDT by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 1,265,815 shares of the utilities provider’s stock valued at $60,152,000 after buying an additional 4,426 shares during the period. Geode Capital Management LLC boosted its holdings in shares of IDT by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 426,442 shares of the utilities provider’s stock valued at $20,269,000 after buying an additional 5,346 shares during the period. State Street Corp boosted its holdings in shares of IDT by 0.5% in the 3rd quarter. State Street Corp now owns 390,145 shares of the utilities provider’s stock valued at $14,911,000 after buying an additional 2,071 shares during the period. D. E. Shaw & Co. Inc. boosted its holdings in shares of IDT by 6.8% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 351,588 shares of the utilities provider’s stock valued at $16,707,000 after buying an additional 22,528 shares during the period. Finally, Deutsche Bank AG boosted its holdings in shares of IDT by 32.4% in the 4th quarter. Deutsche Bank AG now owns 330,616 shares of the utilities provider’s stock valued at $15,711,000 after buying an additional 80,817 shares during the period. 59.34% of the stock is owned by institutional investors and hedge funds.

About IDT

(Get Free Report)

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.

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