Ituran Location and Control (NASDAQ:ITRN) Announces Earnings Results

Ituran Location and Control (NASDAQ:ITRN - Get Free Report) issued its earnings results on Wednesday. The industrial products company reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.70 by $0.03, RTT News reports. Ituran Location and Control had a return on equity of 28.31% and a net margin of 15.65%. The company had revenue of $86.46 million for the quarter, compared to analyst estimates of $88.47 million.

Ituran Location and Control Stock Up 2.5%

NASDAQ ITRN traded up $0.94 on Friday, reaching $38.20. The company had a trading volume of 99,775 shares, compared to its average volume of 102,183. The stock has a market capitalization of $759.95 million, a P/E ratio of 14.64 and a beta of 0.80. The company's fifty day moving average is $35.42 and its 200 day moving average is $34.14. Ituran Location and Control has a 52-week low of $24.12 and a 52-week high of $45.43.

Ituran Location and Control Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Wednesday, June 18th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 5.24%. The ex-dividend date of this dividend is Wednesday, June 18th. Ituran Location and Control's payout ratio is currently 73.80%.

Analyst Ratings Changes

Separately, Barclays upped their target price on Ituran Location and Control from $35.00 to $50.00 and gave the stock an "overweight" rating in a research report on Thursday, February 27th.

Institutional Investors Weigh In On Ituran Location and Control

An institutional investor recently raised its position in Ituran Location and Control stock. Jones Financial Companies Lllp boosted its stake in Ituran Location and Control Ltd. (NASDAQ:ITRN - Free Report) by 327.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,226 shares of the industrial products company's stock after buying an additional 939 shares during the quarter. Jones Financial Companies Lllp's holdings in Ituran Location and Control were worth $43,000 as of its most recent SEC filing. 94.80% of the stock is owned by hedge funds and other institutional investors.

Ituran Location and Control Company Profile

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.