IDT (NYSE:IDT) Downgraded by StockNews.com to Buy

StockNews.com downgraded shares of IDT (NYSE:IDT) from a strong-buy rating to a buy rating in a research report report published on Monday.

IDT Trading Down 1.6 %

Shares of IDT stock opened at $50.08 on Monday. The stock has a 50-day moving average price of $47.84 and a 200 day moving average price of $46.09. The company has a market cap of $1.26 billion, a P/E ratio of 17.15 and a beta of 0.84. IDT has a 1 year low of $33.84 and a 1 year high of $58.77.

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

IDT Increases Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Monday, March 17th will be issued a dividend of $0.06 per share. This is a positive change from IDT’s previous dividend of $0.05. The ex-dividend date of this dividend is Monday, March 17th. IDT’s dividend payout ratio is currently 6.35%.

Insider Buying and Selling at IDT

In other IDT news, CTO David Wartell sold 17,116 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $47.11, for a total value of $806,334.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 25.32% of the company’s stock.

Institutional Trading of IDT

A number of hedge funds have recently modified their holdings of IDT. Park Square Financial Group LLC acquired a new stake in IDT during the 4th quarter valued at $44,000. New York State Teachers Retirement System acquired a new stake in shares of IDT during the third quarter worth $54,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of IDT by 35.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,438 shares of the utilities provider’s stock worth $116,000 after purchasing an additional 632 shares during the period. Quantbot Technologies LP acquired a new stake in shares of IDT during the fourth quarter worth $129,000. Finally, New Age Alpha Advisors LLC bought a new position in IDT during the fourth quarter worth about $134,000. Institutional investors own 59.34% of the company’s stock.

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.