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

StockNews.com cut shares of IDT (NYSE:IDT - Free Report) from a strong-buy rating to a buy rating in a report issued on Monday morning.

IDT Stock Performance

Shares of NYSE IDT traded down $0.89 during midday trading on Monday, hitting $46.66. 238,335 shares of the stock traded hands, compared to its average volume of 85,006. IDT has a one year low of $33.84 and a one year high of $58.77. The business has a 50 day moving average price of $47.90 and a two-hundred day moving average price of $46.19. The company has a market cap of $1.18 billion, a PE ratio of 15.98 and a beta of 0.83.

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

IDT Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 17th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.51%. This is an increase from IDT's previous quarterly dividend of $0.05. The ex-dividend date is Monday, March 17th. IDT's payout ratio is currently 7.62%.

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Insider Activity

In other IDT news, CTO David Wartell sold 17,116 shares of IDT stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $47.11, for a total transaction of $806,334.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 25.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Park Square Financial Group LLC purchased a new stake in shares of IDT during the 4th quarter worth approximately $44,000. New York State Teachers Retirement System bought a new position in shares of IDT in the third quarter worth $54,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position 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 valued at $116,000 after buying an additional 632 shares during the period. Quantbot Technologies LP bought a new position in IDT in the 4th quarter valued at $129,000. Finally, New Age Alpha Advisors LLC bought a new stake in IDT during the fourth quarter valued at $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.