Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) declared a quarterly dividend on Tuesday, May 21st, Zacks reports. Investors of record on Thursday, June 20th will be paid a dividend of 0.24 per share by the industrial products company on Wednesday, July 3rd. This represents a $0.96 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Wednesday, June 19th. This is a positive change from Ituran Location and Control Ltd. (US)’s previous quarterly dividend of $0.23.

Ituran Location and Control Ltd. (US) has decreased its dividend payment by an average of 8.2% annually over the last three years. Ituran Location and Control Ltd. (US) has a dividend payout ratio of 46.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Ituran Location and Control Ltd. (US) to earn $2.98 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 32.2%.

NASDAQ:ITRN traded up $1.69 during trading hours on Tuesday, reaching $33.00. The company’s stock had a trading volume of 34,845 shares, compared to its average volume of 79,580. The stock has a market cap of $673.33 million, a P/E ratio of 13.47, a P/E/G ratio of 0.72 and a beta of 0.93. Ituran Location and Control Ltd. has a 12 month low of $29.25 and a 12 month high of $38.50. The company has a quick ratio of 1.55, a current ratio of 1.83 and a debt-to-equity ratio of 0.40. The firm has a 50 day simple moving average of $32.95.

Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) last issued its quarterly earnings data on Tuesday, May 21st. The industrial products company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.17). The business had revenue of $73.60 million during the quarter, compared to the consensus estimate of $86.76 million. Ituran Location and Control Ltd. (US) had a return on equity of 32.82% and a net margin of 23.24%. On average, analysts expect that Ituran Location and Control Ltd. will post 2.75 EPS for the current fiscal year.

A number of equities analysts have recently issued reports on ITRN shares. Barclays set a $39.00 price target on Ituran Location and Control Ltd. (US) and gave the stock a “buy” rating in a research report on Thursday, May 23rd. BidaskClub downgraded Ituran Location and Control Ltd. (US) from a “hold” rating to a “sell” rating in a research report on Friday, March 15th. Finally, Zacks Investment Research raised Ituran Location and Control Ltd. (US) from a “sell” rating to a “hold” rating in a research report on Wednesday, May 15th.

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About Ituran Location and Control Ltd. (US)

Ituran Location and Control Ltd., together with its subsidiaries, provides location-based services and wireless communications products in Israel, Brazil, Argentina, and the United States. The company's Location-Based Services segment provides stolen vehicle recovery and tracking services, which locate, track, and recover stolen vehicles for its subscribers; fleet management services that enable corporate and individual customers to track and manage their vehicles in real time; and personal locator services that allow customers to protect valuable merchandise and equipment.

Further Reading: Percentage Decliners

Dividend History for Ituran Location and Control Ltd. (US) (NASDAQ:ITRN)

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