Wall Street Zen Downgrades IDT (NYSE:IDT) to Buy

IDT (NYSE:IDT) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of IDT in a report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

IDT Trading Up 0.2%

Shares of IDT stock opened at $51.56 on Friday. The business’s fifty day simple moving average is $49.92 and its 200 day simple moving average is $52.92. IDT has a 12 month low of $45.35 and a 12 month high of $71.12. The firm has a market capitalization of $1.29 billion, a P/E ratio of 16.01 and a beta of 0.76.

IDT (NYSE:IDT) last announced its quarterly earnings data on Thursday, December 4th. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. IDT had a return on equity of 27.12% and a net margin of 6.53%.The firm had revenue of $322.75 million during the quarter, compared to the consensus estimate of $308.00 million.

Insider Buying and Selling

In other IDT news, CFO Marcelo Fischer sold 7,009 shares of the stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $52.03, for a total transaction of $364,678.27. Following the completion of the transaction, the chief financial officer directly owned 56,863 shares of the company’s stock, valued at approximately $2,958,581.89. This represents a 10.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 8,570 shares of company stock valued at $446,073 in the last quarter. 25.41% of the stock is currently owned by corporate insiders.

Institutional Trading of IDT

A number of large investors have recently bought and sold shares of IDT. Public Employees Retirement System of Ohio bought a new stake in shares of IDT in the third quarter valued at $96,000. Gabelli Funds LLC bought a new position in shares of IDT during the 2nd quarter worth $239,000. State of Tennessee Department of Treasury bought a new position in shares of IDT during the 4th quarter worth $268,000. Ameriprise Financial Inc. purchased a new stake in IDT in the 3rd quarter worth about $399,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in IDT by 4.3% in the 1st 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. 59.34% of the stock is owned by hedge funds and other institutional investors.

IDT Company Profile

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.