IDT (NYSE:IDT) Sets New 1-Year High - Here's What Happened

Key Points

• IDT shares reached a new 52-week high of $82.50, well above their 50-day and 200-day moving averages. Analysts maintain a “Moderate Buy” consensus with an average price target of $85.
• IDT reported quarterly revenue of $338.98 million, exceeding estimates, although adjusted EPS of $0.94 missed the $0.98 consensus forecast. The company expects full-year EPS of approximately $3.86.
• The company declared a quarterly dividend of $0.07 per share, equivalent to an annualized yield of 0.3%, while institutional investors own 59.34% of outstanding shares.

IDT Corporation (NYSE:IDT - Get Free Report)'s stock price hit a new 52-week high on Monday. The company traded as high as $82.50 and last traded at $82.2910, with a volume of 49,943 shares traded. The stock had previously closed at $81.49.

Analyst Upgrades and Downgrades

A number of brokerages have commented on IDT. Zacks Research upgraded shares of IDT to a "hold" rating in a research note on Monday, October 5th. Weiss Ratings raised shares of IDT from a "hold (c+)" rating to a "buy (b)" rating in a research note on Tuesday, October 6th. Finally, Freedom Broker lifted their price objective on shares of IDT from $75.00 to $85.00 and gave the company a "buy" rating in a report on Wednesday, September 30th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, IDT has an average rating of "Moderate Buy" and an average target price of $85.00.

IDT Stock Performance

The company's 50 day simple moving average is $70.10 and its 200 day simple moving average is $60.35. The stock has a market cap of $2.05 billion, a PE ratio of 23.78 and a beta of 0.60.

IDT (NYSE:IDT - Get Free Report) last released its earnings results on Monday, September 28th. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.04). IDT had a net margin of 6.67% and a return on equity of 24.22%. The business had revenue of $338.98 million during the quarter, compared to the consensus estimate of $319.00 million. Equities research analysts expect that IDT Corporation will post 3.86 earnings per share for the current year.

IDT Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, October 5th. IDT's payout ratio is 8.07%.

Hedge Funds Weigh In On IDT

Several institutional investors and hedge funds have recently bought and sold shares of the company. Kahn Brothers Group Inc. bought a new position in shares of IDT during the 2nd quarter worth $18,292,990,000. Tidal Investments LLC purchased a new stake in IDT in the 2nd quarter worth about $646,000. Public Employees Retirement System of Ohio bought a new stake in IDT in the 2nd quarter valued at about $596,000. Entropy Technologies LP bought a new stake in IDT in the 1st quarter valued at about $264,000. Finally, Corient Private Wealth LP purchased a new stake in IDT during the second quarter valued at about $252,000. 59.34% of the stock is owned by institutional investors.

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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