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

Ituran Location and Control Ltd. (NASDAQ:ITRN) announced a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Stockholders of record on Thursday, March 20th will be given 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 dividend 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% annually over the last three years. Ituran Location and Control has a dividend payout ratio of 48.3% indicating that its dividend is sufficiently covered by earnings.

Ituran Location and Control Price Performance

NASDAQ ITRN opened at $42.78 on Friday. The business has a 50 day moving average price of $34.09 and a 200 day moving average price of $30.08. The company has a market capitalization of $851.07 million, a P/E ratio of 16.39 and a beta of 1.15. Ituran Location and Control has a 1-year low of $24.12 and a 1-year high of $45.43.

Ituran Location and Control (NASDAQ:ITRN) last posted its earnings results on Wednesday, February 26th. The industrial products company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.02. The company had revenue of $82.88 million for 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%.

Analyst Ratings Changes

Separately, Barclays upped their price target on shares of Ituran Location and Control from $35.00 to $50.00 and gave the company an “overweight” rating in a report 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.