Ituran Location and Control (NASDAQ:ITRN) Issues Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Ituran Location and Control (NASDAQ:ITRN) released its earnings results on Tuesday. The industrial products company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.05, FiscalAI reports. The firm had revenue of $102.67 million for the quarter, compared to the consensus estimate of $95.32 million. Ituran Location and Control had a return on equity of 27.27% and a net margin of 16.15%.

Ituran Location and Control Price Performance

Shares of Ituran Location and Control stock opened at $60.11 on Tuesday. The business’s fifty day moving average price is $54.68 and its two-hundred day moving average price is $47.56. The company has a market capitalization of $1.20 billion, a P/E ratio of 20.66 and a beta of 0.73. Ituran Location and Control has a 1-year low of $32.71 and a 1-year high of $62.31.

Ituran Location and Control Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 16th. Investors of record on Monday, March 30th were issued a $1.50 dividend. This is a positive change from Ituran Location and Control’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, March 30th. This represents a $6.00 annualized dividend and a dividend yield of 10.0%. Ituran Location and Control’s dividend payout ratio (DPR) is 206.19%.

Institutional Trading of Ituran Location and Control

Hedge funds have recently added to or reduced their stakes in the business. Global Retirement Partners LLC raised its stake in Ituran Location and Control by 50.1% during the 4th quarter. Global Retirement Partners LLC now owns 656 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 219 shares in the last quarter. Advisory Services Network LLC bought a new stake in Ituran Location and Control during the 3rd quarter valued at $28,000. Jones Financial Companies Lllp raised its stake in Ituran Location and Control by 327.2% during the 1st quarter. Jones Financial Companies Lllp now owns 1,226 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 939 shares in the last quarter. National Bank of Canada FI bought a new stake in Ituran Location and Control during the 3rd quarter valued at $53,000. Finally, Quantbot Technologies LP bought a new stake in Ituran Location and Control during the 3rd quarter valued at $63,000. Institutional investors own 94.80% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ITRN shares. Loop Capital set a $57.00 target price on Ituran Location and Control in a research note on Monday, March 9th. Barclays lifted their target price on Ituran Location and Control from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, March 5th. Maxim Group initiated coverage on Ituran Location and Control in a research report on Thursday, March 12th. They issued a “buy” rating and a $70.00 target price for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Ituran Location and Control in a report on Friday, March 27th. Finally, Wall Street Zen downgraded Ituran Location and Control from a “strong-buy” rating to a “buy” rating in a report on Monday. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $60.67.

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.