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 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.

Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) last released its quarterly earnings results 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 company had revenue of $73.60 million for the quarter, compared to analyst estimates of $86.76 million. On average, equities research analysts expect that Ituran Location and Control Ltd. will post 2.75 EPS for the current year.

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.

TRADEMARK VIOLATION WARNING: This news story was reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this news story on another website, it was illegally copied and reposted in violation of US and international trademark & copyright laws. The original version of this news story can be viewed at https://sportsperspectives.com/2019/06/18/ituran-location-and-control-ltd-us-nasdaqitrn-to-issue-quarterly-dividend-of-0-24.html.

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.

See Also: What is an investor looking for in an SEC filing?

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

Receive News & Ratings for Ituran Location and Control Ltd. (US) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ituran Location and Control Ltd. (US) and related companies with MarketBeat.com's FREE daily email newsletter.