IDT (NYSE:IDT) Shares Down 4% - Time to Sell?

Key Points

• IDT Corporation's shares fell by 4%, trading between $56.53 and $57.84, with a significant decline in trading volume of 27% from the average.
• Wall Street analysts downgraded IDT's stock from a "strong-buy" to a "buy" rating, reflecting a shift in investor sentiment.
• The company reported a $0.87 EPS for its latest quarter, alongside a quarterly dividend of $0.06 per share, with a low dividend payout ratio of 6.33%.

Shares of IDT Corporation (NYSE:IDT - Get Free Report) traded down 4% during mid-day trading on Monday . The company traded as low as $56.53 and last traded at $57.84. 106,436 shares traded hands during mid-day trading, a decline of 27% from the average session volume of 145,005 shares. The stock had previously closed at $60.27.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of IDT from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 14th.

IDT Trading Down 1.9%

The stock's 50-day simple moving average is $62.60 and its 200-day simple moving average is $55.13. The firm has a market capitalization of $1.49 billion, a P/E ratio of 15.62 and a beta of 0.74.

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 7.85% and a return on equity of 26.38%.

IDT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Monday, June 9th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.4%. IDT's dividend payout ratio (DPR) is currently 6.33%.

Hedge Funds Weigh In On IDT

A number of large investors have recently added to or reduced their stakes in the business. Copeland Capital Management LLC boosted its position in shares of IDT by 16.3% during the second quarter. Copeland Capital Management LLC now owns 1,298 shares of the utilities provider's stock worth $89,000 after acquiring an additional 182 shares during the last quarter. Martingale Asset Management L P raised its stake in shares of IDT by 1.0% in the first quarter. Martingale Asset Management L P now owns 20,610 shares of the utilities provider's stock valued at $1,058,000 after acquiring an additional 210 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of IDT by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,775 shares of the utilities provider's stock valued at $417,000 after acquiring an additional 303 shares during the period. Rhumbline Advisers increased its stake in IDT by 1.2% in the 1st quarter. Rhumbline Advisers now owns 26,240 shares of the utilities provider's stock worth $1,346,000 after buying an additional 320 shares during the period. Finally, MetLife Investment Management LLC grew its holdings in IDT by 7.4% during the 4th quarter. MetLife Investment Management LLC now owns 9,294 shares of the utilities provider's stock worth $442,000 after acquiring an additional 643 shares in the last quarter. Hedge funds and other institutional investors own 59.34% of the company's stock.

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.

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