Ituran Location and Control Ltd. (US) to Issue Quarterly Dividend of $0.23 (ITRN)

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Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) declared a quarterly dividend on Monday, November 26th, Zacks reports. Investors of record on Wednesday, December 26th will be given a dividend of 0.23 per share by the industrial products company on Wednesday, January 9th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend is Monday, December 24th.

Ituran Location and Control Ltd. (US) has raised its dividend by an average of 5.1% annually over the last three years. Ituran Location and Control Ltd. (US) has a payout ratio of 44.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Ituran Location and Control Ltd. (US) to earn $3.02 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 30.5%.

NASDAQ:ITRN traded down $0.51 during trading hours on Wednesday, hitting $32.56. The stock had a trading volume of 8,832 shares, compared to its average volume of 48,675. Ituran Location and Control Ltd. has a one year low of $29.25 and a one year high of $36.72. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.42 and a current ratio of 1.73. The company has a market capitalization of $697.23 million, a PE ratio of 15.58, a PEG ratio of 0.85 and a beta of 0.85.

Ituran Location and Control Ltd. (US) (NASDAQ:ITRN) last issued its earnings results on Monday, November 26th. The industrial products company reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.14. The firm had revenue of $53.38 million during the quarter, compared to the consensus estimate of $57.06 million. Ituran Location and Control Ltd. (US) had a net margin of 25.13% and a return on equity of 32.17%. On average, sell-side analysts forecast that Ituran Location and Control Ltd. will post 2.4 earnings per share for the current year.

Several research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Ituran Location and Control Ltd. (US) from a “hold” rating to a “strong-buy” rating and set a $39.00 price target for the company in a report on Friday, November 30th. BidaskClub raised shares of Ituran Location and Control Ltd. (US) from a “hold” rating to a “buy” rating in a research report on Saturday, December 8th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $41.00 price objective on shares of Ituran Location and Control Ltd. (US) in a research report on Tuesday, December 4th.

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About Ituran Location and Control Ltd. (US)

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.

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

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