IDT (NYSE:IDT) Reaches New 52-Week High - Should You Buy?

Key Points

• IDT shares reached a new 52-week high of $69.97, with the stock trading above its 50-day and 200-day moving averages. The company has a $1.70 billion market capitalization and a P/E ratio of 20.91.
• IDT reported quarterly EPS of $0.94, exceeding the $0.89 consensus estimate, while revenue of $315.71 million also topped expectations.
• Analyst sentiment remains cautious, with the sole analyst rating the stock “Hold.” Additionally, company insiders recently sold shares, while institutional investors own 59.34% of the company.

IDT Corporation (NYSE:IDT - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $69.97 and last traded at $69.1530, with a volume of 7123 shares changing hands. The stock had previously closed at $68.94.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of IDT from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, June 25th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of "Hold".

IDT Stock Performance

The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 20.91 and a beta of 0.62. The company has a 50-day simple moving average of $64.28 and a two-hundred day simple moving average of $55.98.

IDT (NYSE:IDT - Get Free Report) last released its quarterly earnings data on Wednesday, June 3rd. The utilities provider reported $0.94 EPS for the quarter, beating the consensus estimate of $0.89 by $0.05. The company had revenue of $315.71 million during the quarter, compared to the consensus estimate of $308.00 million. IDT had a return on equity of 24.36% and a net margin of 6.41%.

Insiders Place Their Bets

In other news, CFO Marcelo Fischer sold 23,323 shares of the company's stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $56.98, for a total value of $1,328,944.54. Following the sale, the chief financial officer directly owned 32,824 shares of the company's stock, valued at approximately $1,870,311.52. This represents a 41.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nadine Shea sold 500 shares of the company's stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $55.32, for a total transaction of $27,660.00. Following the completion of the sale, the executive vice president directly owned 8,725 shares in the company, valued at approximately $482,667. The trade was a 5.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 25.41% of the company's stock.

Institutional Trading of IDT

Several institutional investors and hedge funds have recently bought and sold shares of IDT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of IDT by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,156 shares of the utilities provider's stock worth $470,000 after acquiring an additional 381 shares during the period. Nykredit A S bought a new stake in IDT in the 2nd quarter valued at $32,000. Bank of New York Mellon Corp raised its stake in IDT by 0.9% in the 1st quarter. Bank of New York Mellon Corp now owns 117,607 shares of the utilities provider's stock valued at $5,774,000 after acquiring an additional 1,088 shares during the period. Tudor Investment Corp ET AL lifted its holdings in IDT by 9.1% during the 4th quarter. Tudor Investment Corp ET AL now owns 16,274 shares of the utilities provider's stock valued at $833,000 after purchasing an additional 1,364 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in IDT during the 3rd quarter valued at $96,000. Institutional investors own 59.34% of the company's stock.

About IDT

IDT Corporation, founded in 1990 and headquartered in Newark, New Jersey, is a diversified global provider of telecommunications and payment services. The company operates through its primary communications arm, IDT Telecom, and a digital solutions segment that encompasses cross-border money transfers and related fintech offerings. Since its inception, IDT has built an international network infrastructure to support voice and data transmission across more than 200 countries and territories.

Through IDT Telecom, the company offers a suite of voice communication products, including prepaid phone cards, VoIP services, SIP trunking and operator-assisted calling.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source