IDT (NYSE:IDT) Hits New 12-Month High – Still a Buy?

IDT Corporation (NYSE:IDT) hit a new 52-week high during trading on Tuesday . The stock traded as high as $69.15 and last traded at $69.0650, with a volume of 75710 shares trading hands. The stock had previously closed at $68.29.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Weiss Ratings raised IDT from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, June 25th. Wall Street Zen downgraded IDT from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 3rd. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

IDT Stock Performance

The firm has a market cap of $1.71 billion, a P/E ratio of 21.05 and a beta of 0.60. The firm’s fifty day moving average is $62.26 and its 200 day moving average is $54.97.

IDT (NYSE:IDT) last issued its quarterly earnings data on Wednesday, June 3rd. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.05. The firm had revenue of $315.71 million during the quarter, compared to the consensus estimate of $308.00 million. IDT had a net margin of 6.41% and a return on equity of 24.36%.

IDT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Tuesday, June 9th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Tuesday, June 9th. IDT’s dividend payout ratio is currently 8.56%.

Insider Buying and Selling at IDT

In related news, CFO Marcelo Fischer sold 23,323 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $1,870,311.52. This represents a 41.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Nadine Shea sold 500 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $55.32, for a total transaction of $27,660.00. Following the completion of the transaction, the executive vice president owned 8,725 shares in the company, valued at $482,667. This trade represents a 5.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 25.41% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of IDT by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,156 shares of the utilities provider’s stock valued at $470,000 after buying an additional 381 shares during the period. Nykredit A S bought a new position in IDT during the 2nd quarter worth $32,000. Bank of New York Mellon Corp increased its stake in IDT by 0.9% during the 1st quarter. Bank of New York Mellon Corp now owns 117,607 shares of the utilities provider’s stock worth $5,774,000 after acquiring an additional 1,088 shares during the period. Tudor Investment Corp ET AL raised its holdings in IDT by 9.1% in the 4th quarter. Tudor Investment Corp ET AL now owns 16,274 shares of the utilities provider’s stock valued at $833,000 after acquiring an additional 1,364 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in IDT in the 3rd quarter valued at $96,000. Institutional investors and hedge funds own 59.34% of the company’s stock.

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.