IDT (NYSE:IDT) Hits New 52-Week High - What's Next?

Key Points

• IDT shares reached a new 52-week high of $81.84, trading about 1.5% higher and well above their 50-day and 200-day moving averages.
• Analyst sentiment is moderately bullish: Freedom Broker raised its price target to $85 with a Buy rating, while another analyst maintained a Hold rating; the consensus target is $85.
• IDT exceeded revenue expectations but missed quarterly EPS estimates, reporting $338.98 million in revenue and $0.94 EPS. The company also declared a quarterly dividend of $0.07 per share, yielding approximately 0.3%.

IDT Corporation (NYSE:IDT - Get Free Report) hit a new 52-week high during mid-day trading on Monday. The company traded as high as $81.84 and last traded at $81.7170, with a volume of 192924 shares trading hands. The stock had previously closed at $78.98.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Freedom Broker lifted their price objective on IDT from $75.00 to $85.00 and gave the company a "buy" rating in a report on Wednesday, September 30th. Weiss Ratings reiterated a "hold (c+)" rating on shares of IDT in a research note on Tuesday, September 22nd. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $85.00.

IDT Trading Up 1.5%

The firm's 50-day simple moving average is $68.70 and its two-hundred day simple moving average is $59.19. The company has a market cap of $1.99 billion, a PE ratio of 23.20 and a beta of 0.60.

IDT (NYSE:IDT - Get Free Report) last announced its quarterly earnings data on Monday, September 28th. The utilities provider reported $0.94 earnings per share for the quarter, missing analysts' consensus estimates of $0.98 by ($0.04). The company had revenue of $338.98 million for the quarter, compared to analysts' expectations of $319.00 million. IDT had a net margin of 6.67% and a return on equity of 24.22%.

IDT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 14th. Investors of record on Monday, October 5th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, October 5th. IDT's dividend payout ratio is 8.07%.

Institutional Trading of IDT

Hedge funds have recently modified their holdings of the stock. Integrated Wealth Concepts LLC purchased a new position in shares of IDT in the 2nd quarter valued at about $25,000. Nykredit A S acquired a new stake in IDT in the 2nd quarter valued at about $32,000. Allworth Financial LP lifted its position in IDT by 531.1% during the second quarter. Allworth Financial LP now owns 568 shares of the utilities provider's stock worth $33,000 after buying an additional 478 shares in the last quarter. Corient Private Wealth LP purchased a new stake in shares of IDT in the second quarter valued at about $252,000. Finally, Entropy Technologies LP purchased a new stake in shares of IDT during the 1st quarter valued at approximately $264,000. Hedge funds and other institutional investors own 59.34% of the company's stock.

About IDT

IDT Corporation NYSE: IDT is a telecommunications and fintech company founded in 1990 by Howard Jonas. The company began as an international long-distance provider and has expanded into consumer communications, payment services and technology solutions for businesses and independent retailers.

Through its BOSS Revolution brand, IDT offers international calling, prepaid wireless services, mobile airtime and data top-ups, and international money-transfer services. Its communications operations also provide wholesale voice services and related connectivity solutions to carriers and other communications providers in markets worldwide.

IDT's National Retail Solutions business provides independent retailers with point-of-sale technology, payment processing, business services and related tools.

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