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

Ituran Location and Control Ltd. (NASDAQ:ITRN) announced a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Shareholders of record on Thursday, March 20th will be paid 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 yield of 5.33%. The ex-dividend date of this dividend is Thursday, March 20th. This is a 28.2% increase from Ituran Location and Control’s previous quarterly dividend of $0.39.

Ituran Location and Control has raised its dividend payment by an average of 20.1% annually over the last three years. Ituran Location and Control has a payout ratio of 61.7% meaning its dividend is sufficiently covered by earnings.

Ituran Location and Control Trading Down 1.3 %

Shares of NASDAQ ITRN opened at $37.49 on Tuesday. Ituran Location and Control has a 1-year low of $24.12 and a 1-year high of $45.43. The company has a 50-day moving average of $35.92 and a two-hundred day moving average of $30.99. The company has a market cap of $745.83 million, a PE ratio of 14.36 and a beta of 1.10.

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

Analyst Ratings Changes

Separately, Barclays lifted their target price on Ituran Location and Control from $35.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, February 27th.

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.