IDT (NYSE:IDT) Stock Price Down 1.7% – What’s Next?

IDT Co. (NYSE:IDT)’s share price dropped 1.7% on Friday . The stock traded as low as $46.46 and last traded at $46.73. Approximately 18,763 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 84,007 shares. The stock had previously closed at $47.55.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of IDT from a “strong-buy” rating to a “buy” rating in a research note on Monday, March 10th.

IDT Stock Down 1.9 %

The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 15.98 and a beta of 0.83. The company has a 50-day moving average price of $47.88 and a 200-day moving average price of $46.31.

IDT (NYSE:IDT) last released its earnings results on Thursday, March 6th. The utilities provider reported $0.81 earnings per share for the quarter. The business had revenue of $303.35 million for the quarter. IDT had a return on equity of 22.18% and a net margin of 6.10%.

IDT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 17th will be paid a dividend of $0.06 per share. This is a boost from IDT’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.24 dividend on an annualized basis and a yield of 0.51%. IDT’s dividend payout ratio (DPR) is currently 7.62%.

Insider Activity

In related news, CTO David Wartell sold 17,116 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $47.11, for a total value of $806,334.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 25.32% of the stock is currently owned by corporate insiders.

Institutional Trading of IDT

Institutional investors have recently bought and sold shares of the business. Versor Investments LP bought a new stake in shares of IDT in the third quarter worth about $213,000. Victory Capital Management Inc. increased its position in shares of IDT by 7.3% during the 3rd quarter. Victory Capital Management Inc. now owns 34,313 shares of the utilities provider’s stock worth $1,310,000 after purchasing an additional 2,320 shares during the last quarter. Quest Partners LLC increased its position in shares of IDT by 40.7% during the 3rd quarter. Quest Partners LLC now owns 10,554 shares of the utilities provider’s stock worth $403,000 after purchasing an additional 3,055 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of IDT by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 157,808 shares of the utilities provider’s stock worth $6,024,000 after purchasing an additional 6,183 shares during the last quarter. Finally, Cerity Partners LLC increased its position in shares of IDT by 121.7% during the 3rd quarter. Cerity Partners LLC now owns 95,700 shares of the utilities provider’s stock worth $3,653,000 after purchasing an additional 52,532 shares during the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

About IDT

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.