Ituran Location and Control (NASDAQ:ITRN) Announces Earnings Results, Beats Estimates By $0.02 EPS

Ituran Location and Control (NASDAQ:ITRN) announced its earnings results on Wednesday. The industrial products company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02, Zacks reports. 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 analysts’ expectations of $81.81 million.

Ituran Location and Control Stock Down 3.4 %

NASDAQ:ITRN traded down $1.45 on Friday, reaching $41.34. 126,765 shares of the company’s stock traded hands, compared to its average volume of 220,514. The stock has a 50-day simple moving average of $34.09 and a 200-day simple moving average of $30.08. The firm has a market cap of $822.32 million, a PE ratio of 15.78 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 disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.84%. This is an increase 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 (DPR) is presently 59.77%.

Analyst Upgrades and Downgrades

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