IDT (NYSE:IDT) Stock Price Down 5.7% - What's Next?

IDT Corporation (NYSE:IDT - Get Free Report) shares fell 5.7% on Tuesday . The stock traded as low as $64.73 and last traded at $64.73. 156,060 shares changed hands during mid-day trading, an increase of 34% from the average session volume of 116,557 shares. The stock had previously closed at $68.66.

Wall Street Analysts Forecast Growth

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

IDT Price Performance

The firm has a 50-day simple moving average of $62.67 and a 200 day simple moving average of $53.43. The company has a market capitalization of $1.51 billion, a PE ratio of 15.79 and a beta of 0.73.

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

IDT Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 0.40%. IDT's payout ratio is 6.33%.

Institutional Trading of IDT

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Longboard Asset Management LP acquired a new position in IDT in the second quarter worth about $217,000. Rhumbline Advisers boosted its stake in IDT by 1.2% in the first quarter. Rhumbline Advisers now owns 26,240 shares of the utilities provider's stock valued at $1,346,000 after acquiring an additional 320 shares during the period. Strs Ohio acquired a new position in IDT in the first quarter valued at approximately $441,000. Acadian Asset Management LLC boosted its stake in IDT by 172.6% in the first 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 during the period. Finally, Millennium Management LLC raised its holdings 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. 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.