Ituran Location and Control (NASDAQ:ITRN) Issues Earnings Results

Ituran Location and Control (NASDAQ:ITRN) announced its quarterly earnings data on Wednesday. The industrial products company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.02, Zacks reports. The business had revenue of $82.88 million during the quarter, compared to analyst estimates of $81.81 million. Ituran Location and Control had a return on equity of 28.31% and a net margin of 15.65%.

Ituran Location and Control Stock Down 2.0 %

ITRN stock traded down $0.87 during midday trading on Thursday, reaching $43.04. 190,201 shares of the company’s stock traded hands, compared to its average volume of 216,731. The company has a 50-day simple moving average of $33.83 and a two-hundred day simple moving average of $29.99. Ituran Location and Control has a 1-year low of $24.12 and a 1-year high of $45.43. The company has a market cap of $856.24 million, a price-to-earnings ratio of 16.48 and a beta of 1.15.

Wall Street Analyst Weigh In

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

About Ituran Location and Control

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.