Ituran Location and Control (NASDAQ:ITRN) Releases Earnings Results, Misses Expectations By $0.06 EPS

Key Points

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Ituran Location and Control (NASDAQ:ITRN - Get Free Report) issued its quarterly earnings results on Tuesday. The industrial products company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.06), Zacks reports. Ituran Location and Control had a net margin of 16.35% and a return on equity of 28.24%. The business had revenue of $86.79 million during the quarter, compared to analyst estimates of $89.17 million.

Ituran Location and Control Trading Up 2.7%

Shares of Ituran Location and Control stock traded up $0.98 during trading on Thursday, hitting $36.69. 168,977 shares of the stock were exchanged, compared to its average volume of 100,776. The stock has a market capitalization of $729.76 million, a price-to-earnings ratio of 13.15 and a beta of 0.89. The company has a fifty day moving average price of $38.93 and a 200-day moving average price of $37.38. Ituran Location and Control has a 1-year low of $25.86 and a 1-year high of $45.43.

Ituran Location and Control Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Thursday, September 25th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend is Thursday, September 25th. Ituran Location and Control's dividend payout ratio (DPR) is 71.68%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut Ituran Location and Control from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 5th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $50.00.

Hedge Funds Weigh In On Ituran Location and Control

Hedge funds and other institutional investors have recently bought and sold shares of the business. Tidal Investments LLC acquired a new position in Ituran Location and Control during the second quarter worth approximately $625,000. Man Group plc boosted its stake in shares of Ituran Location and Control by 90.8% during the 2nd quarter. Man Group plc now owns 137,657 shares of the industrial products company's stock worth $5,331,000 after acquiring an additional 65,502 shares during the period. Lazard Asset Management LLC boosted its stake in shares of Ituran Location and Control by 11.8% during the 2nd quarter. Lazard Asset Management LLC now owns 59,607 shares of the industrial products company's stock worth $2,308,000 after acquiring an additional 6,277 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of Ituran Location and Control by 85.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 11,014 shares of the industrial products company's stock worth $427,000 after acquiring an additional 5,087 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in Ituran Location and Control by 43.2% in the 2nd quarter. Bank of America Corp DE now owns 6,196 shares of the industrial products company's stock valued at $240,000 after acquiring an additional 1,868 shares during the period. Institutional investors own 94.80% of the company's stock.

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.