IDT (NYSE:IDT) Stock Price Down 3.4% - What's Next?

Key Points

• IDT Corporation shares dropped 3.4%, closing at $50.52 amid lower trading volume, which was down 73% compared to the average session.
• Wall Street analysts downgraded IDT from a "strong-buy" to a "buy" rating following a recent earnings report that showed an EPS miss of $0.15.
• IDT announced a $0.06 quarterly dividend to be paid on October 10th, representing a 0.5% yield and a low dividend payout ratio of 6.33%.

Shares of IDT Corporation (NYSE:IDT - Get Free Report) fell 3.4% during mid-day trading on Wednesday . The company traded as low as $51.04 and last traded at $50.52. 41,865 shares changed hands during trading, a decline of 73% from the average session volume of 153,140 shares. The stock had previously closed at $52.31.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded 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 $62.39 and a 200-day simple moving average of $59.07. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 16.76 and a beta of 0.79.

IDT (NYSE:IDT - Get Free Report) last posted its earnings results on Monday, September 29th. The utilities provider reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.15). The business had revenue of $316.60 million for the quarter, compared to analyst estimates of $310.00 million. IDT had a return on equity of 27.84% and a net margin of 6.18%.

IDT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.24 annualized dividend and a yield of 0.5%. IDT's dividend payout ratio (DPR) is 6.33%.

Institutional Investors Weigh In On IDT

Institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its stake 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 buying an additional 58,727 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of IDT by 0.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 514,043 shares of the utilities provider's stock valued at $26,376,000 after buying an additional 2,768 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of IDT in the first quarter valued at $1,063,000. American Century Companies Inc. grew its stake in IDT by 20.5% during the 1st quarter. American Century Companies Inc. now owns 56,127 shares of the utilities provider's stock worth $2,880,000 after purchasing an additional 9,533 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in IDT by 38.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 29,361 shares of the utilities provider's stock worth $1,395,000 after purchasing an additional 8,118 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.

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