Ituran Location and Control Ltd. (NASDAQ:ITRN) Raises Dividend to $0.50 Per Share

Ituran Location and Control Ltd. (NASDAQ:ITRN) declared a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Shareholders of record on Thursday, March 20th will be paid a dividend of 0.50 per share by the industrial products company on Thursday, April 3rd. This represents a $2.00 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date of this dividend is Thursday, March 20th. This is an increase from Ituran Location and Control’s previous quarterly dividend of $0.39.

Ituran Location and Control has increased its dividend by an average of 20.1% per year over the last three years. Ituran Location and Control has a payout ratio of 48.3% indicating that its dividend is sufficiently covered by earnings.

Ituran Location and Control Trading Down 2.6 %

Shares of ITRN traded down $1.13 during midday trading on Thursday, reaching $42.78. The stock had a trading volume of 402,533 shares, compared to its average volume of 223,359. The company has a market capitalization of $851.07 million, a price-to-earnings ratio of 16.39 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. The company’s 50-day moving average is $33.83 and its 200 day moving average is $29.99.

Ituran Location and Control (NASDAQ:ITRN) last announced its quarterly earnings results on Wednesday, February 26th. The industrial products company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The business had revenue of $82.88 million for the quarter, compared to analysts’ expectations of $81.81 million. Ituran Location and Control had a return on equity of 28.31% and a net margin of 15.65%.

Analysts Set New Price Targets

Separately, Barclays increased their price objective on Ituran Location and Control from $35.00 to $50.00 and gave the stock an “overweight” rating in a report 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.