IDT (NYSE:IDT) Hits New 1-Year High – What’s Next?

IDT Corporation (NYSE:IDT) shares hit a new 52-week high during trading on Tuesday. The stock traded as high as $83.24 and last traded at $83.3090, with a volume of 53,063 shares traded. The stock had previously closed at $81.82.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on IDT shares. Weiss Ratings upgraded IDT from a “hold (c+)” rating to a “buy (b)” rating in a research report on Tuesday, October 6th. Freedom Broker raised their price objective on IDT from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, September 30th. Finally, Zacks Research upgraded IDT to a “hold” rating in a research report on Monday, October 5th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, IDT presently has a consensus rating of “Moderate Buy” and an average target price of $85.00.

IDT Trading Down 2.0%

The stock has a market cap of $2.06 billion, a price-to-earnings ratio of 23.86 and a beta of 0.60. The stock’s 50-day moving average price is $72.75 and its 200-day moving average price is $62.26.

IDT (NYSE:IDT) last posted its quarterly earnings data on Monday, September 28th. The utilities provider reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.04). IDT had a return on equity of 24.22% and a net margin of 6.67%. The firm had revenue of $338.98 million for the quarter, compared to analyst estimates of $319.00 million. As a group, analysts predict that IDT Corporation will post 3.86 earnings per share for the current year.

IDT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 14th. Investors of record on Monday, October 5th were issued a $0.07 dividend. The ex-dividend date was Monday, October 5th. This represents a $0.28 annualized dividend and a yield of 0.3%. IDT’s payout ratio is presently 8.07%.

Insider Buying and Selling at IDT

In other news, EVP Nadine Shea sold 600 shares of IDT stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $81.22, for a total value of $48,732.00. Following the completion of the transaction, the executive vice president directly owned 7,725 shares of the company’s stock, valued at approximately $627,424.50. This trade represents a 7.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Judah Schorr sold 7,717 shares of IDT stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $81.57, for a total value of $629,475.69. Following the completion of the transaction, the director directly owned 108,672 shares of the company’s stock, valued at approximately $8,864,375.04. This trade represents a 6.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 31,818 shares of company stock valued at $2,597,244. 25.41% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On IDT

Several institutional investors and hedge funds have recently made changes to their positions in the business. Kahn Brothers Group Inc. acquired a new stake in IDT during the second quarter worth approximately $18,292,990,000. Bank of New York Mellon Corp lifted its stake in IDT by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 117,607 shares of the utilities provider’s stock valued at $5,774,000 after buying an additional 1,088 shares during the period. Vest Financial LLC lifted its stake in IDT by 88.6% in the third quarter. Vest Financial LLC now owns 64,203 shares of the utilities provider’s stock valued at $5,134,000 after buying an additional 30,154 shares during the period. Tidal Investments LLC bought a new position in shares of IDT during the 2nd quarter worth approximately $646,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of IDT during the 2nd quarter worth approximately $596,000. Institutional investors own 59.34% of the company’s stock.

About IDT

IDT Corporation (NYSE: IDT) is a communications and financial technology company that provides telecommunications, payment and business services to consumers, small businesses and enterprise customers. Its offerings include international calling, mobile top-up services, money transfers and other digital payment solutions.

Through its BOSS Revolution brand, IDT serves consumers in the United States and other markets with international calling, mobile recharge and money-transfer products.