IDT (NYSE:IDT) Reaches New 1-Year High Following Analyst Upgrade

IDT Corporation (NYSE:IDT) reached a new 52-week high during trading on Monday after Zacks Research upgraded the stock to a hold rating. The stock traded as high as $81.84 and last traded at $81.7170, with a volume of 192924 shares traded. The stock had previously closed at $78.98.

Other equities research analysts have also recently issued research reports about the stock. Weiss Ratings restated a “hold (c+)” rating on shares of IDT in a report on Tuesday, September 22nd. Freedom Broker boosted their target price 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 equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, IDT has a consensus rating of “Hold” and a consensus target price of $85.00.

Hedge Funds Weigh In On IDT

A number of hedge funds have recently made changes to their positions in IDT. Integrated Wealth Concepts LLC bought a new position in IDT in the 2nd quarter worth approximately $25,000. Nykredit A S bought a new stake in shares of IDT during the second quarter valued at approximately $32,000. Allworth Financial LP raised its position in shares of IDT by 531.1% during the second quarter. Allworth Financial LP now owns 568 shares of the utilities provider’s stock valued at $33,000 after buying an additional 478 shares during the last quarter. Corient Private Wealth LP purchased a new position in shares of IDT in the second quarter worth $252,000. Finally, Entropy Technologies LP bought a new position in shares of IDT during the first quarter worth $264,000. Institutional investors own 59.34% of the company’s stock.

IDT Price Performance

The stock has a market cap of $2.00 billion, a P/E ratio of 23.19 and a beta of 0.60. The stock’s 50-day moving average is $69.24 and its two-hundred day moving average is $59.65.

IDT (NYSE:IDT) last released its quarterly earnings data on Monday, September 28th. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $319.00 million. On average, analysts anticipate that IDT Corporation will post 3.86 EPS for the current fiscal year.

IDT Dividend Announcement

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

About IDT

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.