Zacks Research upgraded shares of IDT (NYSE:IDT – Free Report) to a hold rating in a report issued on Monday morning,Zacks reports.
IDT has been the topic of several other reports. Weiss Ratings reissued a “hold (c+)” rating on shares of IDT in a research note on Tuesday, September 22nd. Freedom Broker raised their price objective on shares of IDT from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, September 30th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $85.00.
Check Out Our Latest Analysis on IDT
IDT Price Performance
IDT (NYSE:IDT – Get Free Report) last announced its quarterly earnings results on Monday, September 28th. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.04). The business had revenue of $338.98 million during the quarter, compared to analyst estimates of $319.00 million. IDT had a net margin of 6.67% and a return on equity of 24.22%. Equities research analysts expect that IDT will post 3.86 EPS for the current year.
IDT Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Monday, October 5th will be paid a $0.07 dividend. The ex-dividend date is Monday, October 5th. This represents a $0.28 annualized dividend and a dividend yield of 0.3%. IDT’s dividend payout ratio is presently 8.07%.
Institutional Trading of IDT
Institutional investors and hedge funds have recently made changes to their positions in the company. Kahn Brothers Group Inc. bought a new position in shares of IDT during the second quarter valued at about $18,292,990,000. Bank of New York Mellon Corp grew its position in IDT by 0.9% in 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 purchasing an additional 1,088 shares in the last quarter. Tidal Investments LLC purchased a new stake in IDT in the 2nd quarter valued at about $646,000. Public Employees Retirement System of Ohio purchased a new stake in IDT in the 2nd quarter valued at about $596,000. Finally, Entropy Technologies LP bought a new position in shares of IDT during the 1st quarter worth approximately $264,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.
IDT Company Profile
IDT Corporation (NYSE: IDT) is a telecommunications and fintech company founded in 1990 by Howard Jonas. The company began as an international long-distance provider and has expanded into consumer communications, payment services and technology solutions for businesses and independent retailers.
Through its BOSS Revolution brand, IDT offers international calling, prepaid wireless services, mobile airtime and data top-ups, and international money-transfer services. Its communications operations also provide wholesale voice services and related connectivity solutions to carriers and other communications providers in markets worldwide.
IDT’s National Retail Solutions business provides independent retailers with point-of-sale technology, payment processing, business services and related tools.
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