IDT (NYSE:IDT) Trading Down 4.4% - What's Next?

IDT Co. (NYSE:IDT - Get Free Report) dropped 4.4% during mid-day trading on Tuesday . The company traded as low as $57.72 and last traded at $57.76. Approximately 48,005 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 100,991 shares. The stock had previously closed at $60.43.

Wall Street Analysts Forecast Growth

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

IDT Trading Down 0.4%

The firm has a market capitalization of $1.48 billion, a PE ratio of 20.11 and a beta of 0.69. The firm's fifty day moving average price is $53.54 and its 200 day moving average price is $50.51.

IDT (NYSE:IDT - Get Free Report) last issued its earnings results on Thursday, March 6th. The utilities provider reported $0.81 EPS for the quarter. IDT had a return on equity of 22.18% and a net margin of 6.10%. The firm had revenue of $303.35 million for the quarter.

IDT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 17th were issued a $0.06 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.24 dividend on an annualized basis and a yield of 0.41%. This is an increase from IDT's previous quarterly dividend of $0.05. IDT's dividend payout ratio is currently 7.62%.

Insider Buying and Selling at IDT

In other news, CTO David Wartell sold 10,735 shares of the stock in a transaction on 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 document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 25.32% of the company's stock.

Institutional Investors Weigh In On IDT

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in IDT by 1.8% during the first quarter. Vanguard Group Inc. now owns 1,288,634 shares of the utilities provider's stock valued at $66,120,000 after buying an additional 22,819 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of IDT by 0.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 514,043 shares of the utilities provider's stock valued at $26,376,000 after acquiring an additional 2,768 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of IDT by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 426,442 shares of the utilities provider's stock valued at $20,269,000 after acquiring an additional 5,346 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in IDT by 6.8% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 351,588 shares of the utilities provider's stock worth $16,707,000 after purchasing an additional 22,528 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in IDT by 32.4% in the 4th quarter. Deutsche Bank AG now owns 330,616 shares of the utilities provider's stock worth $15,711,000 after purchasing an additional 80,817 shares during the last quarter. 59.34% of the stock is currently owned by 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.