IDT (NYSE:IDT) Releases Earnings Results, Beats Estimates By $0.06 EPS

IDT (NYSE:IDT) issued its earnings results on Thursday. The utilities provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.06, FiscalAI reports. IDT had a net margin of 6.18% and a return on equity of 27.03%. The company had revenue of $322.75 million during the quarter, compared to the consensus estimate of $308.00 million.

IDT Stock Performance

IDT stock traded up $0.55 during mid-day trading on Thursday, reaching $50.60. 285,702 shares of the stock traded hands, compared to its average volume of 159,783. The business has a 50-day moving average price of $50.57 and a two-hundred day moving average price of $58.68. The stock has a market capitalization of $1.28 billion, a PE ratio of 16.81 and a beta of 0.77. IDT has a one year low of $44.76 and a one year high of $71.12.

IDT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Tuesday, September 30th. IDT’s payout ratio is presently 7.97%.

Institutional Investors Weigh In On IDT

Several hedge funds and other institutional investors have recently modified their holdings of IDT. Public Employees Retirement System of Ohio bought a new stake in shares of IDT during the 3rd quarter worth approximately $96,000. Gabelli Funds LLC bought a new stake in shares of IDT during the second quarter worth $239,000. Ameriprise Financial Inc. purchased a new stake in shares of IDT during the third quarter valued at $399,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of 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 worth $470,000 after purchasing an additional 381 shares during the last quarter. Finally, California State Teachers Retirement System increased its stake in IDT by 27.0% in the 3rd quarter. California State Teachers Retirement System now owns 19,481 shares of the utilities provider’s stock worth $1,019,000 after buying an additional 4,136 shares during the period. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of IDT in a research report on Monday. Wall Street Zen upgraded shares of IDT from a “hold” rating to a “buy” rating in a research report on Saturday, October 11th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold”.

About IDT

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.