Ituran Location and Control (NASDAQ:ITRN) Releases Quarterly Earnings Results, Beats Expectations 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 firm had revenue of $82.88 million during the quarter, compared to analysts’ expectations of $81.81 million.

Ituran Location and Control Price Performance

Shares of ITRN traded down $1.45 during mid-day trading 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 market cap of $822.32 million, a P/E ratio of 15.78 and a beta of 1.15. The stock’s 50-day moving average is $34.09 and its two-hundred day moving average is $30.08. 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 firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th will be paid a dividend of $0.50 per share. This is a boost from Ituran Location and Control’s previous quarterly dividend of $0.39. The ex-dividend date is Thursday, March 20th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.84%. Ituran Location and Control’s dividend payout ratio is currently 59.77%.

Analysts Set New Price Targets

Separately, Barclays lifted their price objective 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.