IDT Corporation (NYSE:IDT – Get Free Report) reached a new 52-week high during mid-day trading on Monday. The stock traded as high as $82.50 and last traded at $82.2910, with a volume of 49,943 shares trading hands. The stock had previously closed at $81.49.
Wall Street Analyst Weigh In
A number of analysts recently commented on IDT shares. Freedom Broker upped their price target 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. Zacks Research upgraded shares of IDT to a “hold” rating in a research note on Monday, October 5th. Finally, Weiss Ratings upgraded shares of IDT from a “hold (c+)” rating to a “buy (b)” rating in a research note on Tuesday, October 6th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, IDT currently has an average rating of “Moderate Buy” and a consensus price target of $85.00.
Read Our Latest Stock Report on IDT
IDT Trading Up 1.2%
IDT (NYSE:IDT – Get Free Report) last posted its earnings results on Monday, September 28th. The utilities provider reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.04). The company had revenue of $338.98 million for the quarter, compared to analysts’ expectations of $319.00 million. IDT had a net margin of 6.67% and a return on equity of 24.22%. On average, equities analysts forecast that IDT Corporation will post 3.86 EPS for the current year.
IDT Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 14th. Investors of record on Monday, October 5th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Monday, October 5th. This represents a $0.28 annualized dividend and a yield of 0.3%. IDT’s payout ratio is currently 8.07%.
Institutional Trading of IDT
Hedge funds and other institutional investors have recently bought and sold shares of the company. Kahn Brothers Group Inc. purchased a new stake in IDT in the 2nd quarter worth approximately $18,292,990,000. Public Employees Retirement System of Ohio bought a new position in IDT in the 2nd quarter valued at $596,000. Tidal Investments LLC bought a new position in IDT in the 2nd quarter valued at $646,000. Nykredit A S purchased a new position in shares of IDT during the 2nd quarter valued at $32,000. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of IDT during the 2nd quarter valued at $25,000. 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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