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

Ituran Location and Control Ltd. (NASDAQ:ITRN) announced a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Investors 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 4.68%. 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 increased its dividend by an average of 20.1% annually over the last three years. Ituran Location and Control has a dividend payout ratio of 48.3% indicating that its dividend is sufficiently covered by earnings.

Ituran Location and Control Stock Performance

Shares of NASDAQ:ITRN opened at $42.78 on Friday. Ituran Location and Control has a one year low of $24.12 and a one year high of $45.43. The stock has a market capitalization of $851.07 million, a price-to-earnings ratio of 16.39 and a beta of 1.15. The company has a 50-day simple moving average of $34.09 and a 200-day simple moving average of $30.08.

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, beating the consensus estimate 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 firm had revenue of $82.88 million during the quarter, compared to the consensus estimate of $81.81 million.

Analyst Upgrades and Downgrades

Separately, Barclays increased their price target on Ituran Location and Control from $35.00 to $50.00 and gave the stock an “overweight” rating in a 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.