IDT Corporation (NYSE:IDT) Short Interest Update

IDT Corporation (NYSE:IDT) was the target of a significant drop in short interest during the month of December. As of December 15th, there was short interest totaling 342,154 shares, a drop of 24.0% from the November 30th total of 449,941 shares. Based on an average daily trading volume, of 221,936 shares, the days-to-cover ratio is currently 1.5 days. Currently, 1.8% of the shares of the company are sold short. Currently, 1.8% of the shares of the company are sold short. Based on an average daily trading volume, of 221,936 shares, the days-to-cover ratio is currently 1.5 days.

IDT Price Performance

IDT stock traded down $0.41 during midday trading on Tuesday, reaching $51.39. The company had a trading volume of 100,880 shares, compared to its average volume of 241,627. The firm has a 50-day moving average price of $50.69 and a 200-day moving average price of $57.14. The company has a market capitalization of $1.29 billion, a P/E ratio of 15.96 and a beta of 0.77. IDT has a 1 year low of $44.76 and a 1 year high of $71.12.

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, beating the consensus estimate of $0.88 by $0.06. IDT had a net margin of 6.53% and a return on equity of 27.12%. The firm had revenue of $322.75 million for the quarter, compared to analysts’ expectations of $308.00 million.

IDT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.24 annualized dividend and a dividend yield of 0.5%. IDT’s dividend payout ratio (DPR) is 7.45%.

Analyst Upgrades and Downgrades

IDT has been the subject of several recent research reports. Wall Street Zen raised IDT from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 13th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of IDT in a report on Monday. One analyst has rated the stock with a Hold rating, According to MarketBeat, IDT currently has a consensus rating of “Hold”.

Hedge Funds Weigh In On IDT

Large investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio purchased a new stake in IDT during the third quarter valued at about $96,000. Ameriprise Financial Inc. purchased a new stake in IDT during the 3rd quarter valued at about $399,000. California State Teachers Retirement System grew its position in IDT by 27.0% during the 3rd quarter. California State Teachers Retirement System now owns 19,481 shares of the utilities provider’s stock worth $1,019,000 after acquiring an additional 4,136 shares during the last quarter. Strs Ohio increased its stake in IDT by 5.9% in 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 during the period. Finally, Lazard Asset Management LLC increased its stake in IDT by 310.8% in the 2nd quarter. Lazard Asset Management LLC now owns 53,340 shares of the utilities provider’s stock worth $3,643,000 after purchasing an additional 40,357 shares during the period. Hedge funds and other institutional investors own 59.34% of the company’s stock.

About IDT

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.