IDT (NYSE:IDT) Hits New 1-Year High – Still a Buy?

IDT Corporation (NYSE:IDT)’s share price reached a new 52-week high during trading 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.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IDT. Zacks Research upgraded IDT to a “hold” rating in a report on Monday, October 5th. Freedom Broker upped their price target on shares of IDT from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, September 30th. Finally, Weiss Ratings raised IDT from a “hold (c+)” rating to a “buy (b)” rating in a research report on Tuesday, October 6th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, IDT presently has an average rating of “Moderate Buy” and an average target price of $85.00.

IDT Trading Up 1.7%

The business has a 50 day simple moving average of $70.72 and a two-hundred day simple moving average of $60.83. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of 22.94 and a beta of 0.60.

IDT (NYSE:IDT) last posted its quarterly earnings data on Monday, September 28th. The utilities provider reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.04). The company had revenue of $338.98 million for the quarter, compared to the consensus estimate of $319.00 million. IDT had a net margin of 6.67% and a return on equity of 24.22%. Research analysts anticipate that IDT Corporation will post 3.86 EPS for the current fiscal year.

IDT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 14th. Shareholders of record on Monday, October 5th will be paid a dividend of $0.07 per share. The ex-dividend date is Monday, October 5th. This represents a $0.28 annualized dividend and a yield of 0.3%. IDT’s dividend payout ratio is presently 8.07%.

Institutional Investors Weigh In On IDT

Institutional investors have recently modified their holdings of the business. Tidal Investments LLC acquired a new position in IDT during the second quarter valued at approximately $646,000. Integrated Wealth Concepts LLC acquired a new position in shares of IDT during the 2nd quarter worth about $25,000. Allworth Financial LP raised its holdings in shares of IDT by 531.1% in the 2nd quarter. Allworth Financial LP now owns 568 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 478 shares during the period. Nykredit A S bought a new stake in shares of IDT in the 2nd quarter valued at about $32,000. Finally, Corient Private Wealth LP bought a new stake in shares of IDT in the 2nd quarter valued at about $252,000. Institutional investors own 59.34% of the company’s stock.

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.