Ituran Location and Control Ltd. (NASDAQ:ITRN) to Issue $0.50 Quarterly Dividend

Key Points

• Ituran Location and Control declared a quarterly dividend of $0.50 per share, payable October 14 to shareholders of record on September 29. The payment represents a 3.7% annualized yield, with the company having raised its dividend for four consecutive years.
• The dividend appears well covered, with a current payout ratio of 61.5%; analysts expect next year’s earnings of $4.00 per share versus an annual dividend of $2.00, implying a projected 50% payout ratio.
• Ituran reported quarterly EPS of $0.88, slightly above the $0.87 consensus estimate, while revenue of $104.79 million exceeded expectations of $99.84 million.

Ituran Location and Control Ltd. (NASDAQ:ITRN - Get Free Report) announced a quarterly dividend on Wednesday, August 12th. Shareholders of record on Tuesday, September 29th will be paid a dividend of 0.50 per share by the industrial products company on Wednesday, October 14th. This represents a c) annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Tuesday, September 29th.

Ituran Location and Control has raised its dividend by an average of 0.5%per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Ituran Location and Control has a payout ratio of 61.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Ituran Location and Control to earn $4.00 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 50.0%.

Ituran Location and Control Stock Performance

ITRN stock traded up $1.41 during mid-day trading on Wednesday, reaching $54.07. The company had a trading volume of 220,908 shares, compared to its average volume of 131,534. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 17.84 and a beta of 0.79. The firm has a fifty day simple moving average of $58.95 and a 200 day simple moving average of $54.66. Ituran Location and Control has a fifty-two week low of $32.71 and a fifty-two week high of $68.30.

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The industrial products company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.01. Ituran Location and Control had a return on equity of 27.70% and a net margin of 16.03%.The business had revenue of $104.79 million during the quarter, compared to analysts' expectations of $99.84 million. As a group, analysts predict that Ituran Location and Control will post 3.5 earnings per share for the current year.

About Ituran Location and Control

Ituran Location and Control Ltd. is a provider of wireless vehicle tracking and stolen vehicle recovery services. The company leverages a combination of cellular and global positioning system (GPS) technologies to offer real-time monitoring and location-based solutions for private vehicle owners, fleet operators and insurance companies. Its core offerings include subscription-based tracking devices, centralized control centers and software platforms that enable clients to detect unauthorized vehicle use, dispatch recovery teams and manage fleet logistics.

Founded in 1994 in Israel, Ituran pioneered the use of wireless communications for security and telematics applications.

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