IDT (NYSE:IDT) Upgraded to Hold at Zacks Research

Key Points

• Zacks Research upgraded IDT to a “Hold” rating. Analysts’ consensus rating remains “Hold,” with a consensus price target of $85.00; Freedom Broker separately raised its target to $85.00 and maintained a “Buy” rating.
• IDT shares opened at $80.48, near their 52-week high of $82.31, with a $2.00 billion market capitalization. The stock trades at a 23.19 P/E ratio and has risen above both its 50-day and 200-day moving averages.
• In its latest quarter, IDT reported revenue of $338.98 million, exceeding estimates, but EPS of $0.94 fell short of the $0.98 consensus. Institutional investors own approximately 59.34% of the company.

IDT (NYSE:IDT - Get Free Report) was upgraded by research analysts at Zacks Research to a "hold" rating in a report released on Monday, Zacks reports.

Several other equities analysts have also recently commented on IDT. 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 report on Wednesday, September 30th. Weiss Ratings reiterated a "hold (c+)" rating on shares of IDT in a research report on Tuesday, September 22nd. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, IDT presently has an average rating of "Hold" and a consensus target price of $85.00.

IDT Stock Performance

NYSE IDT opened at $80.48 on Monday. The stock has a market cap of $2.00 billion, a PE ratio of 23.19 and a beta of 0.60. The firm has a 50-day moving average of $69.24 and a 200-day moving average of $59.65. IDT has a 52-week low of $45.72 and a 52-week high of $82.31.

IDT (NYSE:IDT - Get Free Report) last released its quarterly earnings results on Monday, September 28th. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.04). IDT had a net margin of 6.67% and a return on equity of 24.22%. The firm had revenue of $338.98 million during the quarter, compared to the consensus estimate of $319.00 million. As a group, analysts predict that IDT will post 3.86 EPS for the current fiscal year.

Hedge Funds Weigh In On IDT

A number of hedge funds have recently bought and sold shares of the company. Integrated Wealth Concepts LLC bought a new position in IDT during the second quarter worth $25,000. Nykredit A S acquired a new stake in IDT in the second quarter worth $32,000. Allworth Financial LP increased its stake in IDT by 531.1% in the second quarter. Allworth Financial LP now owns 568 shares of the utilities provider's stock valued at $33,000 after purchasing an additional 478 shares in the last quarter. Corient Private Wealth LP bought a new stake in IDT in the second quarter valued at $252,000. Finally, Entropy Technologies LP bought a new stake in IDT in the first quarter valued at $264,000. Institutional investors own 59.34% of the company's stock.

IDT Company Profile

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.

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