IDT (NYSE:IDT) Stock Rating Lowered by Wall Street Zen

Wall Street Zen lowered shares of IDT (NYSE:IDT - Free Report) from a strong-buy rating to a buy rating in a report issued on Saturday morning.

IDT Trading Down 0.1%

NYSE IDT traded down $0.04 on Friday, hitting $67.22. 294,466 shares of the company traded hands, compared to its average volume of 107,371. The business's 50 day moving average price is $56.57 and its 200-day moving average price is $51.48. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 17.74 and a beta of 0.72. IDT has a 52-week low of $33.84 and a 52-week high of $69.67.

IDT (NYSE:IDT - Get Free Report) last issued its earnings results on Thursday, June 5th. The utilities provider reported $0.87 earnings per share (EPS) for the quarter. IDT had a return on equity of 26.38% and a net margin of 7.85%. The firm had revenue of $301.98 million for the quarter.

IDT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Monday, June 9th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.36%. IDT's payout ratio is currently 6.33%.

Institutional Investors Weigh In On IDT

Large investors have recently added to or reduced their stakes in the stock. Nuveen LLC bought a new position in shares of IDT during the first quarter valued at approximately $10,409,000. Millennium Management LLC grew its stake 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 valued at $8,406,000 after buying an additional 130,569 shares during the last quarter. Emmett Investment Management LP bought a new position in shares of IDT during the fourth quarter valued at approximately $5,257,000. Deutsche Bank AG boosted its holdings in shares of IDT by 32.4% in the fourth quarter. Deutsche Bank AG now owns 330,616 shares of the utilities provider's stock valued at $15,711,000 after purchasing an additional 80,817 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of IDT by 209.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 86,741 shares of the utilities provider's stock valued at $4,451,000 after purchasing an additional 58,727 shares during the period. 59.34% of the stock is owned by institutional investors.

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.