IDT (NYSE:IDT) Downgraded by StockNews.com

StockNews.com cut shares of IDT (NYSE:IDT) from a strong-buy rating to a buy rating in a research note released on Thursday.

IDT Stock Down 0.9 %

Shares of NYSE IDT opened at $36.15 on Thursday. The company has a market cap of $916.04 million, a P/E ratio of 25.82 and a beta of 0.82. IDT has a 52 week low of $21.64 and a 52 week high of $41.58. The business has a 50-day simple moving average of $37.72 and a two-hundred day simple moving average of $36.56.

IDT (NYSE:IDT) last released its quarterly earnings data on Wednesday, June 5th. The utilities provider reported $0.33 EPS for the quarter. The company had revenue of $299.64 million during the quarter. IDT had a net margin of 2.97% and a return on equity of 18.56%.

IDT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Monday, June 10th. IDT’s dividend payout ratio is 14.29%.

Institutional Trading of IDT

Institutional investors and hedge funds have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC bought a new position in shares of IDT in the first quarter worth approximately $23,276,000. Campbell & CO Investment Adviser LLC grew its position in IDT by 28.6% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 53,367 shares of the utilities provider’s stock worth $1,819,000 after acquiring an additional 11,875 shares in the last quarter. Russell Investments Group Ltd. grew its position in IDT by 163.3% in the fourth quarter. Russell Investments Group Ltd. now owns 94,905 shares of the utilities provider’s stock worth $3,235,000 after acquiring an additional 58,859 shares in the last quarter. Victory Capital Management Inc. increased its stake in IDT by 22.6% in the fourth quarter. Victory Capital Management Inc. now owns 40,070 shares of the utilities provider’s stock valued at $1,366,000 after acquiring an additional 7,380 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in IDT by 58.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,387 shares of the utilities provider’s stock worth $114,000 after purchasing an additional 1,250 shares during the last quarter. Hedge funds and other institutional investors 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.