IDT (NYSE:IDT) Upgraded at Zacks Research

Zacks Research upgraded shares of IDT (NYSE:IDT) to a hold rating in a report published on Monday morning,Zacks reports.

A number of other analysts have also commented on the company. Weiss Ratings restated a “hold (c+)” rating on shares of IDT in a report on Tuesday, September 22nd. Freedom Broker increased their price objective on IDT from $75.00 to $85.00 and gave the stock a “buy” rating in a report 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. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $85.00.

IDT Stock Down 0.3%

Shares of NYSE:IDT opened at $80.10 on Monday. IDT has a 12 month low of $45.72 and a 12 month high of $82.31. The company’s fifty day simple moving average is $69.49 and its 200 day simple moving average is $59.88. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of 23.08 and a beta of 0.60.

IDT (NYSE:IDT) last announced its earnings results on Monday, September 28th. The utilities provider reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.04). The company had revenue of $338.98 million during the quarter, compared to analyst estimates of $319.00 million. IDT had a return on equity of 24.22% and a net margin of 6.67%. Research analysts expect that IDT will post 3.86 earnings per share for the current fiscal year.

IDT Announces Dividend

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

Hedge Funds Weigh In On IDT

A number of large investors have recently modified their holdings of IDT. Kahn Brothers Group Inc. bought a new position in shares of IDT in the 2nd quarter valued at about $18,292,990,000. Bank of New York Mellon Corp raised its holdings in IDT by 0.9% during the first quarter. Bank of New York Mellon Corp now owns 117,607 shares of the utilities provider’s stock worth $5,774,000 after acquiring an additional 1,088 shares in the last quarter. Tidal Investments LLC acquired a new position in IDT during the second quarter valued at approximately $646,000. Public Employees Retirement System of Ohio acquired a new position in IDT during the second quarter valued at approximately $596,000. Finally, Entropy Technologies LP bought a new position in IDT in the first quarter valued at approximately $264,000. 59.34% of the stock is currently owned by institutional investors and hedge funds.

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.