Ituran Location and Control Ltd. (ITRN) to Issue Quarterly Dividend of $1.50 on April 16th

Ituran Location and Control Ltd. (NASDAQ:ITRN) announced a quarterly dividend on Thursday, March 5th. Shareholders of record on Monday, March 30th will be given a dividend of 1.50 per share by the industrial products company on Thursday, April 16th. This represents a c) annualized dividend and a yield of 12.1%. The ex-dividend date is Monday, March 30th. This is a 200.0% increase from Ituran Location and Control’s previous quarterly dividend of $0.50.

Ituran Location and Control has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Ituran Location and Control has a payout ratio of 61.5% indicating that its dividend is sufficiently covered by earnings.

Ituran Location and Control Trading Down 1.9%

Shares of ITRN opened at $49.53 on Friday. Ituran Location and Control has a fifty-two week low of $30.06 and a fifty-two week high of $51.34. The stock has a fifty day moving average of $45.65 and a two-hundred day moving average of $40.55.

Ituran Location and Control (NASDAQ:ITRN) last posted its quarterly earnings data on Thursday, March 5th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.01. The business had revenue of $93.50 million for the quarter, compared to analysts’ expectations of $93.30 million. Ituran Location and Control had a return on equity of 27.79% and a net margin of 16.15%.

Wall Street Analysts Forecast Growth

ITRN has been the topic of several recent analyst reports. Wall Street Zen lowered Ituran Location and Control from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Barclays upped their price objective on shares of Ituran Location and Control from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Ituran Location and Control in a report on Monday, December 29th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $55.00.

Ituran Location and Control Company Profile

Ituran Location and Control Ltd. is a provider of wireless vehicle tracking and stolen vehicle recovery services. The company leverages a combination of cellular and global positioning system (GPS) technologies to offer real-time monitoring and location-based solutions for private vehicle owners, fleet operators and insurance companies. Its core offerings include subscription-based tracking devices, centralized control centers and software platforms that enable clients to detect unauthorized vehicle use, dispatch recovery teams and manage fleet logistics.

Founded in 1994 in Israel, Ituran pioneered the use of wireless communications for security and telematics applications.