IDT Corporation (IDT) to Issue Quarterly Dividend of $0.07 on March 31st

IDT Corporation (NYSE:IDT) declared a quarterly dividend on Monday, March 9th. Investors of record on Thursday, March 19th will be paid a dividend of 0.07 per share by the utilities provider on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Thursday, March 19th. This is a 16.7% increase from IDT’s previous quarterly dividend of $0.06.

IDT has a dividend payout ratio of 7.1% indicating that its dividend is sufficiently covered by earnings.

IDT Stock Down 3.7%

NYSE IDT traded down $1.89 during trading on Wednesday, hitting $49.76. The stock had a trading volume of 282,141 shares, compared to its average volume of 150,556. The company has a market capitalization of $1.25 billion, a PE ratio of 15.45 and a beta of 0.76. The firm has a 50 day moving average price of $49.90 and a 200 day moving average price of $52.76. IDT has a twelve month low of $45.35 and a twelve month high of $71.12.

IDT (NYSE:IDT) last issued its quarterly earnings results on Tuesday, March 10th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.10. IDT had a net margin of 6.53% and a return on equity of 27.12%. The business had revenue of $320.52 million for the quarter, compared to analysts’ expectations of $302.00 million.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Wall Street Zen lowered shares of IDT from a “strong-buy” rating to a “buy” rating in a report on Saturday. Weiss Ratings restated a “hold (c+)” rating on shares of IDT in a research note on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, IDT currently has a consensus rating of “Hold”.

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.