IDT (NYSE:IDT) Issues Quarterly Earnings Results

IDT (NYSE:IDT) announced its quarterly earnings results on Thursday. The utilities provider reported $0.87 EPS for the quarter, Zacks reports. IDT had a return on equity of 22.18% and a net margin of 6.10%. The company had revenue of $301.98 million during the quarter.

IDT Stock Performance

IDT stock opened at $68.98 on Friday. IDT has a 1 year low of $33.84 and a 1 year high of $69.67. The firm has a market cap of $1.74 billion, a P/E ratio of 23.62 and a beta of 0.72. The stock has a 50-day simple moving average of $54.18 and a 200-day simple moving average of $50.77.

IDT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Monday, June 9th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.35%. IDT’s dividend payout ratio (DPR) is currently 6.33%.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded IDT from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 18th.

Insider Activity

In other news, CTO David Wartell sold 10,735 shares of the stock in a transaction dated Tuesday, March 18th. The stock was 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 Securities & Exchange Commission, which is available at the SEC website. Insiders own 25.32% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Millennium Management LLC boosted its holdings in IDT by 392.6% in the first quarter. Millennium Management LLC now owns 163,830 shares of the utilities provider’s stock valued at $8,406,000 after purchasing an additional 130,569 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in IDT by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,156 shares of the utilities provider’s stock valued at $470,000 after purchasing an additional 381 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in IDT by 40.2% in the first quarter. AQR Capital Management LLC now owns 58,197 shares of the utilities provider’s stock valued at $2,986,000 after purchasing an additional 16,678 shares during the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

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.