IDT (NYSE:IDT) Shares Gap Down – Should You Sell?

IDT Corporation (NYSE:IDT)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $52.97, but opened at $51.27. IDT shares last traded at $50.97, with a volume of 10,943 shares.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on IDT shares. Weiss Ratings restated a “hold (c+)” rating on shares of IDT in a research note on Monday. Wall Street Zen upgraded shares of IDT from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 13th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, IDT presently has a consensus rating of “Hold”.

IDT Price Performance

The firm’s 50 day moving average price is $50.07 and its two-hundred day moving average price is $57.88. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 15.81 and a beta of 0.77.

IDT (NYSE:IDT) last posted its quarterly earnings data on Thursday, December 4th. The utilities provider reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. The company had revenue of $322.75 million during the quarter, compared to analysts’ expectations of $308.00 million. IDT had a return on equity of 27.12% and a net margin of 6.53%.

IDT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Monday, December 15th. IDT’s payout ratio is currently 7.45%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Copeland Capital Management LLC lifted its position in IDT by 16.3% in the second quarter. Copeland Capital Management LLC now owns 1,298 shares of the utilities provider’s stock valued at $89,000 after purchasing an additional 182 shares during the period. Martingale Asset Management L P raised its stake in shares of IDT by 1.0% during the 1st quarter. Martingale Asset Management L P now owns 20,610 shares of the utilities provider’s stock worth $1,058,000 after buying an additional 210 shares in the last quarter. Rhumbline Advisers grew its holdings in IDT by 1.2% during the first quarter. Rhumbline Advisers now owns 26,240 shares of the utilities provider’s stock worth $1,346,000 after acquiring an additional 320 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in IDT by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,156 shares of the utilities provider’s stock worth $470,000 after acquiring an additional 381 shares in the last quarter. Finally, Strs Ohio boosted its position in shares of IDT by 5.9% during the 3rd quarter. Strs Ohio now owns 10,700 shares of the utilities provider’s stock worth $560,000 after purchasing an additional 600 shares in the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.

IDT Company Profile

IDT Corporation, founded in 1990 and headquartered in Newark, New Jersey, is a diversified global provider of telecommunications and payment services. The company operates through its primary communications arm, IDT Telecom, and a digital solutions segment that encompasses cross-border money transfers and related fintech offerings. Since its inception, IDT has built an international network infrastructure to support voice and data transmission across more than 200 countries and territories.

Through IDT Telecom, the company offers a suite of voice communication products, including prepaid phone cards, VoIP services, SIP trunking and operator-assisted calling.