IDT Co. (NYSE:IDT) Declares $0.06 Quarterly Dividend

IDT Co. (NYSE:IDT - Get Free Report) declared a quarterly dividend on Thursday, June 5th, RTT News reports. Shareholders of record on Monday, June 9th will be paid a dividend of 0.06 per share by the utilities provider on Wednesday, June 18th. This represents a $0.24 annualized dividend and a yield of 0.37%.

IDT has a dividend payout ratio of 7.1% indicating that its dividend is sufficiently covered by earnings.

IDT Stock Down 5.5%

IDT stock traded down $3.74 during mid-day trading on Monday, hitting $64.88. The company had a trading volume of 282,154 shares, compared to its average volume of 103,818. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 22.22 and a beta of 0.72. IDT has a 1 year low of $33.84 and a 1 year high of $70.50. The business has a fifty day moving average of $54.18 and a 200 day moving average of $50.78.

IDT (NYSE:IDT - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The utilities provider reported $0.87 EPS for the quarter. The company had revenue of $301.98 million for the quarter. IDT had a net margin of 6.10% and a return on equity of 22.18%.

Insider Buying and Selling at IDT

In other news, CTO David Wartell sold 10,735 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $48.99, for a total transaction of $525,907.65. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 25.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On IDT

Hedge funds have recently modified their holdings of the business. Millennium Management LLC grew its position in shares of IDT by 392.6% during the first quarter. Millennium Management LLC now owns 163,830 shares of the utilities provider's stock worth $8,406,000 after acquiring an additional 130,569 shares during the last quarter. AQR Capital Management LLC grew its position in shares of IDT by 40.2% during the first quarter. AQR Capital Management LLC now owns 58,197 shares of the utilities provider's stock worth $2,986,000 after acquiring an additional 16,678 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of IDT by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,156 shares of the utilities provider's stock worth $470,000 after acquiring an additional 381 shares during the last quarter. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.