IDT (NYSE:IDT) Posts Quarterly Earnings Results

IDT (NYSE:IDT - Get Free Report) issued its earnings results on Thursday. The utilities provider reported $0.87 earnings per share (EPS) for the quarter, Zacks reports. IDT had a return on equity of 22.18% and a net margin of 6.10%. The business had revenue of $301.98 million during the quarter.

IDT Stock Up 15.0%

Shares of IDT traded up $8.99 during mid-day trading on Friday, reaching $68.98. 429,219 shares of the company's stock were exchanged, compared to its average volume of 102,916. IDT has a 52-week low of $33.84 and a 52-week high of $69.67. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 23.62 and a beta of 0.72. The company has a 50-day simple moving average of $54.18 and a two-hundred day simple moving average of $50.77.

IDT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Monday, June 9th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.35%. IDT's dividend payout ratio is presently 6.33%.

Analyst Ratings Changes

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

Insider Transactions at IDT

In other news, CTO David Wartell sold 10,735 shares of IDT stock in a transaction dated 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 filing with the Securities & Exchange Commission, which can be accessed 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 the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in 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 purchasing an additional 381 shares during the period. AQR Capital Management LLC grew its holdings in shares of IDT by 40.2% during the 1st quarter. AQR Capital Management LLC now owns 58,197 shares of the utilities provider's stock worth $2,986,000 after purchasing an additional 16,678 shares during the period. Finally, Millennium Management LLC increased its position in IDT by 392.6% during the 1st quarter. Millennium Management LLC now owns 163,830 shares of the utilities provider's stock worth $8,406,000 after purchasing an additional 130,569 shares in the last quarter. 59.34% of the stock is owned by institutional investors and hedge funds.

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.