Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) to Issue Quarterly Dividend of $0.24

Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) declared a quarterly dividend on Tuesday, May 21st, Zacks reports. Investors of record on Thursday, June 20th will be given a dividend of 0.24 per share by the industrial products company on Wednesday, July 3rd. This represents a $0.96 annualized dividend and a yield of 3.05%. The ex-dividend date is Wednesday, June 19th. This is an increase from Ituran Location and Control Ltd. (US)’s previous quarterly dividend of $0.23.

Ituran Location and Control Ltd. (US) has decreased its dividend payment by an average of 8.2% annually over the last three years. Ituran Location and Control Ltd. (US) has a payout ratio of 46.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Ituran Location and Control Ltd. (US) to earn $2.98 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 32.2%.

Ituran Location and Control Ltd. (US) stock opened at $31.45 on Friday. Ituran Location and Control Ltd. has a fifty-two week low of $29.25 and a fifty-two week high of $38.50. The company has a market cap of $661.59 million, a P/E ratio of 12.84, a PEG ratio of 0.70 and a beta of 0.93. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.55 and a current ratio of 1.83.

Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) last released its quarterly earnings data on Tuesday, May 21st. The industrial products company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.17). Ituran Location and Control Ltd. (US) had a return on equity of 32.82% and a net margin of 23.24%. The firm had revenue of $73.60 million for the quarter, compared to the consensus estimate of $86.76 million. Analysts expect that Ituran Location and Control Ltd. will post 2.75 EPS for the current fiscal year.

ITRN has been the topic of several recent analyst reports. Barclays set a $39.00 price objective on shares of Ituran Location and Control Ltd. (US) and gave the stock a “buy” rating in a research note on Thursday, May 23rd. BidaskClub raised shares of Ituran Location and Control Ltd. (US) from a “sell” rating to a “hold” rating in a research note on Wednesday, February 27th. Finally, Zacks Investment Research raised shares of Ituran Location and Control Ltd. (US) from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th.

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Ituran Location and Control Ltd. (US) Company Profile

Ituran Location and Control Ltd., together with its subsidiaries, provides location-based services and wireless communications products in Israel, Brazil, Argentina, and the United States. The company's Location-Based Services segment provides stolen vehicle recovery and tracking services, which 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 personal locator services that allow customers to protect valuable merchandise and equipment.

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Dividend History for Ituran Location and Control Ltd. (US) (NASDAQ:ITRN)

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