Ituran Location and Control (NASDAQ:ITRN) Posts Earnings Results

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) issued its quarterly earnings results on Wednesday. The industrial products company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.68 by $0.02, Zacks reports. Ituran Location and Control had a net margin of 15.65% and a return on equity of 28.31%. The firm had revenue of $82.88 million for the quarter, compared to analysts' expectations of $81.81 million.

Ituran Location and Control Stock Down 2.1 %

Shares of ITRN stock traded down $0.90 on Friday, reaching $41.88. The stock had a trading volume of 343,047 shares, compared to its average volume of 226,437. The firm's 50-day moving average is $34.34 and its two-hundred day moving average is $30.22. The firm 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 12 month low of $24.12 and a 12 month high of $45.43.

Ituran Location and Control Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.78%. This is a boost from Ituran Location and Control's previous quarterly dividend of $0.39. The ex-dividend date is Thursday, March 20th. Ituran Location and Control's dividend payout ratio is presently 59.77%.

Analysts Set New Price Targets

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

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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.