IDT (NYSE:IDT) Sets New 52-Week High - Here's Why

IDT Co. (NYSE:IDT - Get Free Report)'s share price hit a new 52-week high on Friday . The stock traded as high as $67.44 and last traded at $66.61, with a volume of 57901 shares changing hands. The stock had previously closed at $59.99.

Analyst Ratings Changes

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

IDT Price Performance

The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 23.62 and a beta of 0.72. The business's 50-day moving average price is $54.18 and its two-hundred day moving average price is $50.77.

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

IDT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Monday, June 9th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.35%. IDT's dividend payout ratio (DPR) is 6.33%.

Insider Transactions at IDT

In other news, CTO David Wartell sold 10,735 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $48.99, for a total transaction of $525,907.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 25.32% of the company's stock.

Institutional Investors Weigh In On IDT

Several hedge funds have recently modified their holdings of IDT. Rhumbline Advisers lifted its stake in IDT by 1.2% during the first quarter. Rhumbline Advisers now owns 26,240 shares of the utilities provider's stock valued at $1,346,000 after buying an additional 320 shares in the last quarter. Strs Ohio purchased a new stake in shares of IDT in the 1st quarter valued at approximately $441,000. Acadian Asset Management LLC lifted its position in shares of IDT by 172.6% in the 1st quarter. Acadian Asset Management LLC now owns 80,974 shares of the utilities provider's stock valued at $4,143,000 after acquiring an additional 51,274 shares in the last quarter. Millennium Management LLC lifted its position in shares of IDT by 392.6% in the 1st quarter. Millennium Management LLC now owns 163,830 shares of the utilities provider's stock valued at $8,406,000 after acquiring an additional 130,569 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 valued at $470,000 after purchasing an additional 381 shares in the last quarter. 59.34% of the stock is owned by hedge funds and other 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.