Ituran Location and Control Ltd. (NASDAQ:ITRN) Raises Dividend to $0.50 Per Share

Ituran Location and Control Ltd. (NASDAQ:ITRN - Get Free Report) announced a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Investors 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 dividend on an annualized basis and a dividend yield of 5.03%. 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 dividend payout ratio of 59.0% indicating that its dividend is sufficiently covered by earnings.

Ituran Location and Control Stock Down 5.0 %

Shares of ITRN traded down $2.08 during trading hours on Monday, reaching $39.80. 318,055 shares of the company traded hands, compared to its average volume of 228,734. The stock has a market capitalization of $791.78 million, a PE ratio of 15.25 and a beta of 1.15. Ituran Location and Control has a fifty-two week low of $24.12 and a fifty-two week high of $45.43. The stock has a fifty day simple moving average of $34.34 and a 200 day simple moving average of $30.24.

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

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Wall Street Analyst Weigh In

Separately, Barclays raised their price target on Ituran Location and Control from $35.00 to $50.00 and gave the stock an "overweight" rating in a research note on Thursday.

About Ituran Location and Control

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.