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 dividend yield of 2.91%. 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% per year over the last three years. Ituran Location and Control Ltd. (US) has a dividend payout ratio of 46.2% meaning its dividend is sufficiently covered by earnings. Research 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%.
Shares of ITRN traded up $1.69 during mid-day trading on Tuesday, hitting $33.00. 34,845 shares of the company were exchanged, compared to its average volume of 79,580. Ituran Location and Control Ltd. has a 1-year low of $29.25 and a 1-year high of $38.50. The company has a current ratio of 1.83, a quick ratio of 1.55 and a debt-to-equity ratio of 0.40. The firm’s 50 day simple moving average is $32.95. The stock has a market cap of $673.33 million, a PE ratio of 13.47, a price-to-earnings-growth ratio of 0.72 and a beta of 0.93.
A number of research firms have commented on ITRN. BidaskClub upgraded shares of Ituran Location and Control Ltd. (US) from a “sell” rating to a “hold” rating in a report on Wednesday, February 27th. Zacks Investment Research downgraded shares of Ituran Location and Control Ltd. (US) from a “hold” rating to a “sell” rating in a report on Saturday, April 27th. Finally, Barclays began coverage on shares of Ituran Location and Control Ltd. (US) in a report on Thursday, May 16th. They issued an “overweight” rating and a $42.00 price objective for the company.
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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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