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.
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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