IDT (NYSE:IDT) Announces Quarterly Earnings Results, Beats Expectations By $0.06 EPS

IDT (NYSE:IDT) posted its quarterly earnings results on Thursday. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.06, FiscalAI reports. IDT had a net margin of 6.53% and a return on equity of 27.92%. The business had revenue of $322.75 million during the quarter, compared to the consensus estimate of $308.00 million.

IDT Stock Performance

IDT stock opened at $48.38 on Friday. IDT has a fifty-two week low of $44.76 and a fifty-two week high of $71.12. The firm’s 50-day simple moving average is $50.06 and its 200 day simple moving average is $58.53. The stock has a market cap of $1.22 billion, a PE ratio of 15.02 and a beta of 0.77.

IDT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Monday, December 15th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, December 15th. IDT’s dividend payout ratio (DPR) is presently 7.45%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on IDT shares. Wall Street Zen upgraded shares of IDT from a “hold” rating to a “buy” rating in a report on Saturday, October 11th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of IDT in a research report on Monday. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Hedge Funds Weigh In On IDT

A number of hedge funds and other institutional investors have recently modified their holdings of IDT. Public Employees Retirement System of Ohio bought a new stake in IDT during the third quarter worth $96,000. Gabelli Funds LLC bought a new stake in shares of IDT during the 2nd quarter worth $239,000. Ameriprise Financial Inc. purchased a new position in shares of IDT in the 3rd quarter worth about $399,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of IDT by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,156 shares of the utilities provider’s stock worth $470,000 after buying an additional 381 shares during the last quarter. Finally, California State Teachers Retirement System grew its position in IDT by 27.0% during the third quarter. California State Teachers Retirement System now owns 19,481 shares of the utilities provider’s stock valued at $1,019,000 after buying an additional 4,136 shares during the period. Hedge funds and other 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.