Ituran Location and Control Ltd. (NASDAQ:ITRN) Announces Quarterly Dividend of $0.50

Ituran Location and Control Ltd. (NASDAQ:ITRN) declared a quarterly dividend on Wednesday, August 12th. Shareholders of record on Tuesday, September 29th will be paid a dividend of 0.50 per share by the industrial products company on Wednesday, October 14th. This represents a c) annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Tuesday, September 29th.

Ituran Location and Control has raised its dividend payment by an average of 0.5%annually over the last three years and has raised its dividend every year for the last 4 years. Ituran Location and Control has a dividend payout ratio of 61.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Ituran Location and Control to earn $4.00 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 50.0%.

Ituran Location and Control Price Performance

Shares of NASDAQ:ITRN traded up $1.41 during trading on Wednesday, reaching $54.07. The company had a trading volume of 220,908 shares, compared to its average volume of 131,534. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 17.84 and a beta of 0.79. The stock’s fifty day moving average price is $58.95 and its 200 day moving average price is $54.66. Ituran Location and Control has a fifty-two week low of $32.71 and a fifty-two week high of $68.30.

Ituran Location and Control (NASDAQ:ITRN) last issued its quarterly earnings results on Wednesday, August 12th. The industrial products company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.01. Ituran Location and Control had a return on equity of 27.70% and a net margin of 16.03%.The firm had revenue of $104.79 million during the quarter, compared to the consensus estimate of $99.84 million. On average, equities analysts anticipate that Ituran Location and Control will post 3.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ITRN. Zacks Research raised shares of Ituran Location and Control to a “hold” rating in a research note on Thursday, May 28th. Wall Street Zen upgraded shares of Ituran Location and Control from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 2nd. Finally, UBS Group reaffirmed a “buy” rating on shares of Ituran Location and Control in a report on Wednesday, May 27th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Ituran Location and Control has a consensus rating of “Moderate Buy” and a consensus target price of $60.67.

Ituran Location and Control Company Profile

Ituran Location and Control Ltd. is a provider of wireless vehicle tracking and stolen vehicle recovery services. The company leverages a combination of cellular and global positioning system (GPS) technologies to offer real-time monitoring and location-based solutions for private vehicle owners, fleet operators and insurance companies. Its core offerings include subscription-based tracking devices, centralized control centers and software platforms that enable clients to detect unauthorized vehicle use, dispatch recovery teams and manage fleet logistics.

Founded in 1994 in Israel, Ituran pioneered the use of wireless communications for security and telematics applications.