IDT (NYSE:IDT) Shares Pass Above 200-Day Moving Average – What’s Next?

IDT Corporation (NYSE:IDT)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $52.42 and traded as high as $63.82. IDT shares last traded at $62.54, with a volume of 280,099 shares traded.

Wall Street Analysts Forecast Growth

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

IDT Trading Up 2.7%

The stock’s 50-day moving average price is $57.10 and its two-hundred day moving average price is $52.50. The stock has a market capitalization of $1.60 billion, a P/E ratio of 19.70 and a beta of 0.64.

IDT (NYSE:IDT) last issued its quarterly earnings results 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. IDT had a net margin of 6.41% and a return on equity of 24.36%. The company had revenue of $315.71 million during the quarter, compared to analyst estimates of $308.00 million.

IDT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Tuesday, June 9th were given 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 (DPR) is currently 8.56%.

Insider Buying and Selling at IDT

In other news, CFO Marcelo Fischer sold 23,323 shares of the stock in a transaction on Friday, June 26th. The stock was sold at an average price of $56.98, for a total transaction of $1,328,944.54. Following the completion of the transaction, the chief financial officer owned 32,824 shares in the company, valued at approximately $1,870,311.52. This represents a 41.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nadine Shea sold 500 shares of IDT stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $55.32, for a total value of $27,660.00. Following the completion of the sale, the executive vice president directly owned 8,725 shares of the company’s stock, valued at approximately $482,667. This trade represents a 5.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 25.41% of the company’s stock.

Institutional Investors Weigh In On IDT

Institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio bought a new position in IDT during the third quarter worth about $96,000. Gabelli Funds LLC bought a new stake in shares of IDT in the second quarter valued at approximately $239,000. Entropy Technologies LP bought a new stake in shares of IDT in the first quarter valued at approximately $264,000. State of Tennessee Department of Treasury purchased a new stake in shares of IDT during the 4th quarter valued at approximately $268,000. Finally, Ameriprise Financial Inc. purchased a new stake in shares of IDT during the 3rd quarter valued at approximately $399,000. 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.