Ituran Location and Control Ltd. (ITRN) to Issue Quarterly Dividend of $0.50 on April 3rd

Ituran Location and Control Ltd. (NASDAQ:ITRN) declared a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Stockholders of record on Thursday, March 20th will be given a dividend of 0.50 per share by the industrial products company on Thursday, April 3rd. This represents a $2.00 annualized dividend and a dividend yield of 4.78%. The ex-dividend date of this dividend is Thursday, March 20th. This is an increase from Ituran Location and Control’s previous quarterly dividend of $0.39.

Ituran Location and Control has raised its dividend by an average of 20.1% per year over the last three years. Ituran Location and Control has a payout ratio of 48.3% indicating that its dividend is sufficiently covered by earnings.

Ituran Location and Control Trading Down 2.1 %

NASDAQ:ITRN traded down $0.90 during midday trading on Friday, hitting $41.88. 343,047 shares of the stock were exchanged, compared to its average volume of 226,437. The business has a 50-day moving average price of $34.09 and a two-hundred day moving average price of $30.08. The company has a market capitalization of $833.16 million, a price-to-earnings ratio of 16.05 and a beta of 1.15. Ituran Location and Control has a one year low of $24.12 and a one year high of $45.43.

Ituran Location and Control (NASDAQ:ITRN) last posted its quarterly earnings data on Wednesday, February 26th. The industrial products company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Ituran Location and Control had a return on equity of 28.31% and a net margin of 15.65%. The company had revenue of $82.88 million for the quarter, compared to the consensus estimate of $81.81 million.

Wall Street Analysts Forecast Growth

Separately, Barclays raised their price objective on shares of Ituran Location and Control from $35.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday.

Ituran Location and Control Company Profile

Ituran Location and Control Ltd., together with its subsidiaries, provides location based telematics services and machine-to-machine telematics products. It operates through two segments, Telematics Services and Telematics Products. The Telematics services segment offers stolen vehicle recovery and tracking services, which enables to 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 locator services that allow customers to protect valuable merchandise and equipment.