IDT (NYSE:IDT) Upgraded at StockNews.com

StockNews.com upgraded shares of IDT (NYSE:IDT) from a buy rating to a strong-buy rating in a research report sent to investors on Tuesday.

IDT Trading Up 0.9 %

Shares of IDT stock opened at $50.90 on Tuesday. IDT has a 12-month low of $33.84 and a 12-month high of $58.77. The stock has a market cap of $1.29 billion, a PE ratio of 17.43 and a beta of 0.84. The company has a 50-day moving average of $48.19 and a two-hundred day moving average of $46.58.

IDT (NYSE:IDT) last issued its earnings results on Thursday, March 6th. The utilities provider reported $0.81 earnings per share (EPS) for the quarter. IDT had a net margin of 6.10% and a return on equity of 22.18%. The company had revenue of $303.35 million during the quarter.

IDT Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 17th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Monday, March 17th. This is a boost from IDT’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a yield of 0.47%. IDT’s dividend payout ratio (DPR) is 7.62%.

Insider Activity

In other news, CTO David Wartell sold 10,735 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $48.99, for a total value of $525,907.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 25.32% of the company’s stock.

Institutional Trading of IDT

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of IDT by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 1,265,815 shares of the utilities provider’s stock valued at $60,152,000 after purchasing an additional 4,426 shares during the last quarter. Geode Capital Management LLC boosted its position in IDT by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 426,442 shares of the utilities provider’s stock worth $20,269,000 after acquiring an additional 5,346 shares during the last quarter. State Street Corp boosted its position in IDT by 0.5% during the third quarter. State Street Corp now owns 390,145 shares of the utilities provider’s stock worth $14,911,000 after acquiring an additional 2,071 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its position in IDT by 6.8% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 351,588 shares of the utilities provider’s stock worth $16,707,000 after acquiring an additional 22,528 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in IDT by 32.4% during the fourth quarter. Deutsche Bank AG now owns 330,616 shares of the utilities provider’s stock worth $15,711,000 after acquiring an additional 80,817 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.

IDT Company Profile

IDT Corporation provides communications and payment services in the United States, the United Kingdom, and internationally. It operates through Fintech, National Retail Solutions, net2phone, and Traditional Communications segments. The company operates point of sale, a terminal-based platform which provides independent retailers store management software, electronic payment processing, and other ancillary merchant services; and provides marketers with digital out-of-home advertising and transaction data.